Kavi Asset Management LP Purchases New Stake in Arch Coal, Inc. Class A (ARCH)

Kavi Asset Management LP purchased a new position in Arch Coal, Inc. Class A (NASDAQ:ARCH) during the fourth quarter, Holdings Channel reports. The firm purchased 38,300 shares of the company’s stock, valued at approximately $2,988,000. Arch Coal, Inc. Class A accounts for 2.2% of Kavi Asset Management LP’s holdings, making the stock its 16th largest position. Kavi Asset Management LP owned approximately 0.11% of Arch Coal, Inc. Class A at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ARCH. FMR LLC bought a new stake in Arch Coal, Inc. Class A during the fourth quarter worth about $66,261,000. Highland Capital Management LP bought a new stake in Arch Coal, Inc. Class A during the fourth quarter worth about $51,191,000. Alken Asset Management Ltd. bought a new stake in Arch Coal, Inc. Class A during the fourth quarter worth about $48,592,000. Systematic Financial Management LP bought a new stake in Arch Coal, Inc. Class A during the fourth quarter worth about $22,705,000. Finally, Marshall Wace LLP bought a new stake in Arch Coal, Inc. Class A during the fourth quarter worth about $13,611,000.

Institutional Ownership by Quarter for Arch Coal, Inc. Class A (NASDAQ:ARCH)

Shares of Arch Coal, Inc. Class A (NASDAQ:ARCH) traded down 0.32% during trading on Tuesday, reaching $68.65. The company’s stock had a trading volume of 352,659 shares. Arch Coal, Inc. Class A has a 52 week low of $59.05 and a 52 week high of $86.47. The stock’s 50 day moving average price is $73.34 and its 200 day moving average price is $49.69. The company has a market cap of $2.48 billion and a PE ratio of 52.40.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last posted its earnings results on Wednesday, February 8th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $1.52. The company had revenue of $575.69 million for the quarter, compared to analyst estimates of $556.23 million. The business’s quarterly revenue was down 58.8% on a year-over-year basis. Equities research analysts predict that Arch Coal, Inc. Class A will post $8.41 EPS for the current year.

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ARCH has been the topic of several recent research reports. MKM Partners set a $98.00 price objective on shares of Arch Coal, Inc. Class A and gave the company a “buy” rating in a research report on Sunday, January 8th. FBR & Co reaffirmed a “buy” rating on shares of Arch Coal, Inc. Class A in a research report on Thursday, February 9th. Zacks Investment Research raised shares of Arch Coal, Inc. Class A from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, December 6th. Seaport Global Securities initiated coverage on shares of Arch Coal, Inc. Class A in a research report on Thursday, November 10th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Stifel Nicolaus raised their price objective on shares of Arch Coal, Inc. Class A from $81.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, December 1st. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $94.60.

5 Day Chart for NASDAQ:ARCH

Want to see what other hedge funds are holding ARCH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Arch Coal, Inc. Class A (NASDAQ:ARCH).

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