The New Mangrove Partners Master Fund, Ltd Holding in Westmoreland Coal Co
Mangrove Partners Master Fund, Ltd filed with the SEC SC 13D form for Westmoreland Coal Co. The form can be accessed here: 000101359416001322. As reported in Mangrove Partners Master Fund, Ltd’s form, the filler as of late owns 10.2% or 1,894,608 shares of the Energy–company.
Westmoreland Coal Co stake is a new one for the and it was filed because of activity on November 17, 2016. We feel this shows Mangrove Partners Master Fund, Ltd’s positive view for the stock.
Reasons Why Mangrove Partners Master Fund, Ltd Bought – Westmoreland Coal Co Stock
Purpose of Transaction
The Reporting Persons purchased the securities of the Issuer reported herein based on their belief that such securities are undervalued and represent an attractive investment opportunity. Depending upon other factors including overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Issuer at prices that would make the purchase or sale of such securities desirable, the Reporting Persons may endeavor (i) to increase or decrease their respective positions in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions or otherwise on such terms and at such times as the Reporting Persons may deem advisable and/or (ii) to enter into transactions that increase or hedge their economic exposure to the Shares without affecting their beneficial ownership of Shares.
The Reporting Persons have initiated dialogue with the Issuer regarding the Issuer’s assets related to Coal Valley Resources Inc. in an effort to maximize value for all shareholders.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons may take positions regarding or make precatory, conditional or binding proposals with respect to, or with respect to potential changes in, the Issuer’s: operations, management, certificate of incorporation and bylaws, composition of the Board, ownership, capital or corporate structure, dividend policy, potential acquisitions or sales, businesses or assets, including the sales thereof, strategy and/or plans of the Issuer as a means of enhancing stockholder value. The Reporting Persons may change their intention with respect to any and all matters referred to in Item 4. The Reporting Persons intend to review their investment in the Issuer on an ongoing basis and may from time to time in the future express their views to and/or meet with management, the Board, other stockholders or third parties, including, potential acquirers, service providers and financing sources, and/or may formulate plans or proposals regarding the Issuer, its assets or its securities. Such possible plans or proposals may include one or more plans or proposals that relate to or would result in one or more of the changes referred to herein, or any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D.
Westmoreland Coal Co Institutional Sentiment
Latest Security and Exchange filings show 80 investors own Westmoreland Coal Co. The institutional ownership in Q3 2015 is high, at 65.71% of the outstanding shares. This is increased by 1358188 the total institutional shares. 12203066 were the shares owned by these institutional investors. In total 15 funds opened new Westmoreland Coal Co stakes, 33 increased stakes. There were 21 that closed positions and 23 reduced them.
6 managers had the stock in their top Ten. Notable investors are: Venor Capital Management Lp, Farmstead Capital Management Llc, Mangrove Partners, Gendell Jeffrey L..
Dg Capital Management Llc is an institutional investor bullish on Westmoreland Coal Co, owning 395261 shares as of Q3 2015 for 6.48% of its portfolio. Jeffrey Bersh And Michael Wartell Venor Capital Management Lp owns 1136369 shares or 6.22% of its portfolio. NJ Farmstead Capital Management Llc have 11.33% of their stock portfolio for 737961 shares. Further, Altalis Capital Management Llc reported stake worth 6.07% of its US stock portfolio. The NY Goldman Capital Management Inc owns 608800 shares. Westmoreland Coal Co is 6.12% of the manager’s US portfolio.
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. Coal – Canada segment includes the operations of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the operations of Westmoreland Resource Partners, LP, a coal master limited partnership. Power segment includes its Roanoke Valley Power Facility (ROVA) operations located in North Carolina. Heritage segment includes the benefits the Company provides to former mining operation employees, as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment consists of corporate administrative expenses.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment increased to 2.19 in Q2 2016. Its up 0.89, from 1.3 in 2016Q1. The ratio improved, as 14 funds sold all Westmoreland Coal Company shares owned while 16 reduced positions. 10 funds bought stakes while 29 increased positions. They now own 11.26 million shares or 28.48% less from 15.75 million shares in 2016Q1.
Price T Rowe Assoc Incorporated Md last reported 0% of its portfolio in the stock. Parametric Assoc Lc has invested 0% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB). Credit Suisse Ag last reported 88,343 shares in the company. Blackrock Fund Advisors accumulated 475,106 shares or 0% of the stock. Wells Fargo And Com Mn, a California-based fund reported 5,010 shares. D E Shaw And last reported 269,611 shares in the company. Blackrock Institutional Tru Com Na reported 559,771 shares or 0% of all its holdings. Deutsche Bank Ag last reported 2,815 shares in the company. Morgan Stanley accumulated 0% or 76,674 shares. Renaissance Technology Ltd Com holds 0% or 69,800 shares in its portfolio. Gsa Prns Llp has invested 0.02% of its portfolio in Westmoreland Coal Company (NASDAQ:WLB). Vanguard Inc owns 970,183 shares or 0% of their US portfolio. Legal General Gp Public Limited Company, a United Kingdom-based fund reported 2,151 shares. Federated Invsts Pa holds 12,504 shares or 0% of its portfolio. Moreover, State Bank Of America De has 0% invested in Westmoreland Coal Company (NASDAQ:WLB) for 3,100 shares.
About 220 shares traded hands. Westmoreland Coal Company (NASDAQ:WLB) has risen 103.68% since April 19, 2016 and is uptrending. It has outperformed by 99.82% the S&P500.
Westmoreland Coal Company is an energy company. The company has a market cap of $272.05 million. The Firm operates through six divisions: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP , Power, Heritage and Corporate. It currently has negative earnings. Coal – U.S. segment includes the activities of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
Westmoreland Coal Company (NASDAQ:WLB) Ratings Coverage
Out of 4 analysts covering Westmoreland Coal (NASDAQ:WLB), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $20 is the highest target while $9 is the lowest. The $16.25 average target is 7.26% above today’s ($15.15) stock price. Westmoreland Coal has been the topic of 8 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The rating was initiated by FBR Capital with “Outperform” on Friday, September 18. The stock of Westmoreland Coal Company (NASDAQ:WLB) earned “Buy” rating by Seaport Global Securities on Friday, November 4. The firm earned “Outperform” rating on Monday, November 16 by FBR Capital. BMO Capital Markets initiated Westmoreland Coal Company (NASDAQ:WLB) rating on Friday, September 4. BMO Capital Markets has “Outperform” rating and $20.0 price target. BMO Capital Markets initiated it with “Outperform” rating and $20 target price in Tuesday, September 1 report. ForwardView Consulting downgraded Westmoreland Coal Company (NASDAQ:WLB) rating on Tuesday, February 9. ForwardView Consulting has “Speculative Buy” rating and $9 price target. FBR Capital maintained Westmoreland Coal Company (NASDAQ:WLB) rating on Thursday, October 13. FBR Capital has “Outperform” rating and $12 price target. The stock has “Outperform” rating given by FBR Capital on Wednesday, November 9.
More notable recent Westmoreland Coal Company (NASDAQ:WLB) news were published by: Moodys.com which released: “Moody’s downgrades Westmoreland Coal Company’s CFR to Caa1; outlook stable” on March 01, 2016, also Seekingalpha.com with their article: “Westmoreland Coal Company: Excellent Short Candidate And Bankruptcy Protection …” published on April 20, 2016, Seekingalpha.com published: “Westmoreland Coal CFO Veenstra to resign” on November 21, 2016. More interesting news about Westmoreland Coal Company (NASDAQ:WLB) were released by: Seekingalpha.com and their article: “Westmoreland Coal Company’s (WLB) CEO Kevin Paprzycki on Q1 2016 Results …” published on May 10, 2016 as well as Businesswire.com‘s news article titled: “Westmoreland Coal Company Appoints Gary Kohn Vice President of Investor Relations” with publication date: April 05, 2016.
According to Zacks Investment Research, “Westmoreland Coal Company’s principal activities are: the production and sale of coal from the Powder River Basin in eastern Montana; the ownership of interests in cogeneration and other non-regulated independent power plants; and the leasing of capacity at Dominion Terminal Associates, a coal storage and vessel loading facility.”
WLB Company Profile
Westmoreland Coal Company, incorporated on May 4, 1910, is an energy company. The Firm operates through six divisions: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the activities of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. Coal – Canada segment includes the activities of coal mines located in Alberta and Saskatchewan. Coal – WMLP segment includes the activities of Westmoreland Resource Partners, LP, a coal master limited partnership. Power segment includes its Roanoke Valley Power Facility (ROVA) activities located in North Carolina. Heritage segment includes the benefits the Company provides to former mining operation employees, as well as other administrative costs associated with providing those benefits and cost containment efforts. Corporate segment consists of corporate administrative expenses. The Company’s activities include over 10 coal mines in the United States and Canada, a char production facility, stake in an activated carbon plant, and approximately two coal-fired power generation units. The Firm produces and sells thermal coal primarily to investment grade utility clients under long-term cost-protected contracts, as well as to industrial clients and barbeque briquettes manufacturers.
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