Alon USA Partners LP (ALDW) Short Interest Update
Alon USA Partners LP (NYSE:ALDW) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 293,883 shares, a decrease of 58.2% from the September 15th total of 703,147 shares. Based on an average daily trading volume, of 762,526 shares, the days-to-cover ratio is presently 0.4 days. Approximately 2.6% of the company’s stock are sold short.
Alon USA Partners (NYSE:ALDW) opened at 8.28 on Wednesday. The stock’s 50 day moving average is $9.48 and its 200 day moving average is $9.87. Alon USA Partners has a 52 week low of $8.07 and a 52 week high of $26.67. The firm has a market cap of $517.67 million, a price-to-earnings ratio of 9.65 and a beta of 0.97.
Alon USA Partners (NYSE:ALDW) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by $0.07. Alon USA Partners had a net margin of 2.94% and a return on equity of 38.88%. The company earned $468.46 million during the quarter, compared to the consensus estimate of $417.45 million. During the same period in the previous year, the firm posted $0.95 EPS. The business’s quarterly revenue was down 25.1% compared to the same quarter last year. Equities research analysts expect that Alon USA Partners will post ($0.12) EPS for the current year.
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Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Alon USA Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Barclays PLC restated an “underweight” rating and set a $8.00 price target (down previously from $9.00) on shares of Alon USA Partners in a research note on Monday, October 10th. TheStreet upgraded shares of Alon USA Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 31st. Finally, Citigroup Inc. increased their price target on shares of Alon USA Partners from $10.80 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its position in shares of Alon USA Partners by 178.8% in the second quarter. First Trust Advisors LP now owns 2,492,266 shares of the company’s stock worth $25,147,000 after buying an additional 1,598,296 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of Alon USA Partners during the first quarter worth $704,000. Arrow Investment Advisors LLC raised its position in shares of Alon USA Partners by 87.6% in the second quarter. Arrow Investment Advisors LLC now owns 49,270 shares of the company’s stock worth $497,000 after buying an additional 23,002 shares during the last quarter. Clinton Group Inc. bought a new position in shares of Alon USA Partners during the second quarter worth $171,000. Finally, WealthTrust Axiom LLC raised its position in shares of Alon USA Partners by 88.9% in the second quarter. WealthTrust Axiom LLC now owns 34,000 shares of the company’s stock worth $343,000 after buying an additional 16,000 shares during the last quarter. 5.96% of the stock is currently owned by hedge funds and other institutional investors.
About Alon USA Partners
Alon USA Partners, LP (Alon) is engaged principally in the business of operating a crude oil refinery in Big Spring, Texas, with a crude oil throughput capacity of approximately 73,000 barrels per day, which the Company refers to as its Big Spring refinery. The Company refines crude oil into finished products, which the Company markets primarily in Central and West Texas, Oklahoma, New Mexico and Arizona through its integrated wholesale distribution network to retail convenience stores and other third-party distributors.
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