Insider Selling: American Resources (NASDAQ:AREC) Major Shareholder Sells $477,945.84 in Stock

American Resources Corporation (NASDAQ:AREC) major shareholder Properties Ltd. Golden sold 118,892 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $4.02, for a total value of $477,945.84. Following the completion of the transaction, the insider directly owned 11,178,095 shares of the company’s stock, valued at $44,935,941.90. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Tuesday, November 4th, Properties Ltd. Golden sold 92,973 shares of American Resources stock. The shares were sold at an average price of $4.00, for a total value of $371,892.00.
• On Tuesday, August 19th, Properties Ltd. Golden sold 1,000,000 shares of American Resources stock. The stock was sold at an average price of $1.26, for a total value of $1,260,000.00.
• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total value of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The shares were sold at an average price of $4.12, for a total transaction of $82,400.00.

American Resources Stock Up 11.1%

AREC stock opened at $4.01 on Friday. The company has a market capitalization of $399.20 million, a P/E ratio of -8.53 and a beta of 1.15. The company has a 50-day simple moving average of $3.28 and a 200 day simple moving average of $1.86. American Resources Corporation has a fifty-two week low of $0.38 and a fifty-two week high of $7.11.

American Resources (NASDAQ:AREC) last released its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. Equities analysts anticipate that American Resources Corporation will post -0.38 EPS for the current year.

Hedge Funds Weigh In On American Resources

A number of hedge funds have recently modified their holdings of AREC. Virtu Financial LLC boosted its position in shares of American Resources by 271.3% in the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company’s stock valued at $48,000 after purchasing an additional 74,464 shares during the period. CWM LLC purchased a new stake in American Resources during the third quarter valued at about $429,000. Belvedere Trading LLC acquired a new position in shares of American Resources in the third quarter worth about $30,000. Northwest Financial Advisors acquired a new position in shares of American Resources in the third quarter worth about $27,000. Finally, Vanguard Group Inc. increased its position in shares of American Resources by 4.0% in the third quarter. Vanguard Group Inc. now owns 3,124,973 shares of the company’s stock worth $8,437,000 after acquiring an additional 120,065 shares in the last quarter. 9.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AREC has been the topic of several recent analyst reports. D. Boral Capital initiated coverage on American Resources in a report on Monday, September 15th. They set a “buy” rating and a $6.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of American Resources in a research note on Wednesday, October 8th. Wall Street Zen upgraded American Resources from a “sell” rating to a “hold” rating in a report on Sunday, September 28th. William Blair started coverage on American Resources in a report on Monday, October 20th. They set an “outperform” rating on the stock. Finally, D Boral Capital upgraded shares of American Resources to a “strong-buy” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

About American Resources

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.