Alliance Laundry Holdings Inc. $ALH Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC raised its stake in Alliance Laundry Holdings Inc. (NYSE:ALH) by 24.6% in the first quarter, HoldingsChannel.com reports. The fund owned 207,300 shares of the company’s stock after buying an additional 40,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Alliance Laundry were worth $4,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Alliance Laundry by 74.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company’s stock worth $30,000 after purchasing an additional 608 shares during the last quarter. Comerica Bank bought a new position in Alliance Laundry during the 4th quarter worth $50,000. California State Teachers Retirement System bought a new position in Alliance Laundry during the 4th quarter worth $55,000. Caitong International Asset Management Co. Ltd acquired a new stake in Alliance Laundry in the fourth quarter worth $63,000. Finally, Russell Investments Group Ltd. bought a new stake in Alliance Laundry in the fourth quarter valued at $71,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALH shares. Zacks Research downgraded shares of Alliance Laundry from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Citigroup lifted their price objective on shares of Alliance Laundry from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Robert W. Baird boosted their target price on shares of Alliance Laundry from $29.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings upgraded shares of Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley raised their price target on shares of Alliance Laundry from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.33.

Alliance Laundry Trading Down 1.4%

NYSE:ALH opened at $27.62 on Friday. Alliance Laundry Holdings Inc. has a 1 year low of $18.64 and a 1 year high of $28.23. The stock has a market cap of $5.49 billion and a price-to-earnings ratio of 33.28. The business has a fifty day moving average of $25.94 and a 200-day moving average of $23.99. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.05 and a current ratio of 1.37.

Alliance Laundry (NYSE:ALH) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $426.89 million for the quarter. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. Equities analysts predict that Alliance Laundry Holdings Inc. will post 1.29 earnings per share for the current year.

Insider Activity at Alliance Laundry

In other news, CAO Brian Christopher Sikora sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $26.15, for a total value of $457,625.00. Following the completion of the sale, the chief accounting officer directly owned 13,951 shares of the company’s stock, valued at approximately $364,818.65. This represents a 55.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Brooke Kopetsky sold 13,472 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total transaction of $363,744.00. Following the completion of the transaction, the insider owned 7,331 shares of the company’s stock, valued at $197,937. This trade represents a 64.76% 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. Over the last quarter, insiders have sold 137,528 shares of company stock worth $3,583,271. 7.60% of the stock is currently owned by corporate insiders.

Alliance Laundry Profile

Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.