66,850 Shares of Alliance Laundry Holdings Inc. $ALH Bought by Straight Path Wealth Management

Straight Path Wealth Management acquired a new position in shares of Alliance Laundry Holdings Inc. (NYSE:ALH) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 66,850 shares of the company’s stock, valued at approximately $1,424,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC grew its holdings in shares of Alliance Laundry by 3.5% during the second quarter. HighTower Advisors LLC now owns 16,410 shares of the company’s stock worth $435,000 after purchasing an additional 556 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Alliance Laundry by 74.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock valued at $30,000 after buying an additional 608 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Alliance Laundry by 7.4% in the first quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company’s stock valued at $267,000 after buying an additional 885 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Alliance Laundry in the second quarter valued at about $36,000. Finally, GAMMA Investing LLC raised its holdings in shares of Alliance Laundry by 11,068.8% in the second quarter. GAMMA Investing LLC now owns 1,787 shares of the company’s stock valued at $47,000 after buying an additional 1,771 shares during the last quarter.

Alliance Laundry Stock Down 0.1%

Shares of ALH opened at $21.28 on Monday. The firm’s 50-day simple moving average is $22.00 and its 200 day simple moving average is $24.26. The firm has a market cap of $4.23 billion and a P/E ratio of 23.38. Alliance Laundry Holdings Inc. has a 52 week low of $18.64 and a 52 week high of $28.23. The company has a debt-to-equity ratio of 3.35, a quick ratio of 1.14 and a current ratio of 1.43.

Alliance Laundry (NYSE:ALH) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $476.75 million for the quarter. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. On average, analysts forecast that Alliance Laundry Holdings Inc. will post 1.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALH has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on Alliance Laundry from $31.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Robert W. Baird boosted their target price on Alliance Laundry from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. BMO Capital Markets boosted their target price on Alliance Laundry from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Weiss Ratings cut Alliance Laundry from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Finally, Zacks Research downgraded shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alliance Laundry has an average rating of “Hold” and a consensus price target of $30.20.

Insider Buying and Selling

In other news, COO Jan Gommaar M. Vleugels sold 75,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $21.05, for a total value of $1,578,750.00. Following the completion of the transaction, the chief operating officer directly owned 374,563 shares in the company, valued at approximately $7,884,551.15. This represents a 16.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Samantha Hannan sold 6,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $26.80, for a total value of $160,800.00. Following the completion of the transaction, the insider owned 286,066 shares of the company’s stock, valued at $7,666,568.80. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 169,472 shares of company stock worth $3,959,544 in the last ninety days. 7.60% of the stock is owned by insiders.

About Alliance Laundry

Alliance Laundry Holdings, Inc is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. Through its operating businesses, the company designs, manufactures and distributes washing machines, dryers and related laundry systems for commercial, institutional and consumer customers.

Its product portfolio includes coin-operated and on-premises laundry equipment, industrial laundry systems, and residential washers and dryers. The company’s brands include Speed Queen, Huebsch, UniMac, Primus and IPSO, serving customers such as laundromats, multifamily housing operators, hotels, healthcare facilities, correctional institutions and other organizations with high-volume laundry needs.

Alliance Laundry traces its origins to 1908 and sells its products through distributors and other sales channels in the United States and international markets.