Insider Selling: Tontine Capital Partners P Sells 250,511 Shares of Westmoreland Coal Stock (WLB)
Westmoreland Coal (NYSE:WLB) major shareholder Tontine Capital Partners P sold 250,511 shares of the company’s stock on the open market in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $13.02, for a total value of $3,261,653.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on WLB. Analysts at TheStreet upgraded shares of Westmoreland Coal (NYSE:WLB) from a “sell” rating to a “hold” rating in a research note to investors on Wednesday, August 28th. Analysts at Imperial Capital raised their price target on shares of Westmoreland Coal (NYSE:WLB) from $14.00 to $14.50 in a research note to investors on Monday, July 29th. They now have an “outperform” rating on the stock.
Westmoreland Coal (NYSE:WLB) traded down 1.15% during mid-day trading on Friday, hitting $12.95. 22,702 shares of the company’s stock traded hands. Westmoreland Coal has a 1-year low of $7.91 and a 1-year high of $13.79. The stock has a 50-day moving average of $12.9 and a 200-day moving average of $12.01. The company’s market cap is $189.0 million.
Westmoreland Coal (NYSE:WLB) last issued its quarterly earnings data on Friday, July 26th. The company reported ($0.04) earnings per share for the quarter. The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $132.80 million. On average, analysts predict that Westmoreland Coal will post $0.56 earnings per share for the current fiscal year.
Westmoreland Coal Company (NYSE:WLB) is an energy company.
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