Foresight Energy LP (FELP) Major Shareholder Life Sciences Fund L. Accipiter Sells 577,546 Shares of Stock
Foresight Energy LP (NYSE:FELP) major shareholder Life Sciences Fund L. Accipiter sold 577,546 shares of the firm’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $7.14, for a total transaction of $4,123,678.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Foresight Energy LP (NYSE:FELP) opened at 6.85 on Tuesday. The stock’s market cap is $891.51 million. The company’s 50 day moving average is $4.97 and its 200 day moving average is $3.10. Foresight Energy LP has a one year low of $1.07 and a one year high of $7.80.
Foresight Energy (NYSE:FELP) last announced its earnings results on Wednesday, November 9th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.11) by $0.08. Foresight Energy had a negative return on equity of 272.74% and a negative net margin of 12.55%. The business had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $218.45 million. On average, equities research analysts expect that Foresight Energy LP will post ($0.74) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of FELP. Arrow Investment Advisors LLC boosted its position in Foresight Energy by 187.7% in the second quarter. Arrow Investment Advisors LLC now owns 585,560 shares of the company’s stock valued at $913,000 after buying an additional 382,000 shares during the period. Acrospire Investment Management LLC boosted its position in Foresight Energy by 131.9% in the third quarter. Acrospire Investment Management LLC now owns 32,234 shares of the company’s stock valued at $122,000 after buying an additional 18,334 shares during the period. Finally, Morgan Stanley boosted its position in Foresight Energy by 36.2% in the third quarter. Morgan Stanley now owns 34,903 shares of the company’s stock valued at $133,000 after buying an additional 9,285 shares during the period. Institutional investors own 15.18% of the company’s stock.
A number of research firms have issued reports on FELP. Zacks Investment Research raised shares of Foresight Energy from a “sell” rating to a “hold” rating in a report on Friday, August 12th. FBR & Co set a $3.00 price target on shares of Foresight Energy and gave the stock a “hold” rating in a report on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.08.
About Foresight Energy
Foresight Energy LP is engaged in the mining and marketing of coal from reserves and operations located in the Illinois Basin. The Company controls over three billion tons of coal in the state of Illinois. Its reserves consist principally of over three contiguous blocks of high heat content (high Btu) thermal coal, which are used for longwall operations.
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