Macquarie Group Ltd. Acquires New Stake in Westmoreland Coal (NASDAQ:WLB)

Macquarie Group Ltd. acquired a new position in Westmoreland Coal (NASDAQ:WLB) during the third quarter, according to its most recent filing with the SEC. The firm acquired 208,300 shares of the coal producer’s stock, valued at approximately $531,000. Macquarie Group Ltd. owned about 1.11% of Westmoreland Coal as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Westmoreland Coal by 15.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 211,862 shares of the coal producer’s stock valued at $540,000 after purchasing an additional 28,300 shares during the period. Edge Wealth Management LLC purchased a new position in Westmoreland Coal during the third quarter valued at $128,000. Dynamic Technology Lab Private Ltd raised its stake in Westmoreland Coal by 541.4% during the second quarter. Dynamic Technology Lab Private Ltd now owns 100,767 shares of the coal producer’s stock valued at $491,000 after buying an additional 85,057 shares during the last quarter. Western Standard LLC bought a new stake in shares of Westmoreland Coal in the 2nd quarter worth $123,000. Finally, Mangrove Partners increased its holdings in shares of Westmoreland Coal by 1.4% in the 2nd quarter. Mangrove Partners now owns 833,345 shares of the coal producer’s stock worth $4,058,000 after purchasing an additional 11,298 shares in the last quarter. Hedge funds and other institutional investors own 65.90% of the company’s stock.

Westmoreland Coal (WLB) opened at $1.17 on Friday. Westmoreland Coal has a 52-week low of $0.95 and a 52-week high of $19.03. The company has a market capitalization of $21.37, a PE ratio of -0.19 and a beta of 0.67. The company has a debt-to-equity ratio of -1.32, a current ratio of 1.04 and a quick ratio of 0.71.

Several analysts recently commented on the company. B. Riley reaffirmed a “buy” rating on shares of Westmoreland Coal in a report on Monday, November 6th. FBR & Co reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Westmoreland Coal in a report on Friday, September 1st. Finally, Zacks Investment Research raised Westmoreland Coal from a “strong sell” rating to a “hold” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.00.

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Westmoreland Coal Profile

Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.

Institutional Ownership by Quarter for Westmoreland Coal (NASDAQ:WLB)

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