Alpha Metallurgical Resources, Inc. (AMR) has another insider purchase to add to what is becoming one of the more notable cluster-buying stretches on record for the coal producer. A Form 4 filed with the SEC shows director Kenneth S. Courtis bought 1,271 shares on August 28, 2026, at $226.48 apiece, a purchase worth $287,856.08. Following the transaction, Courtis holds 1,021,665 shares directly.
This latest buy is not an isolated event. It is one leg of a much larger pattern: 19 separate open-market purchases at Alpha Metallurgical Resources between August 20 and August 28, 2026, totaling $8,287,774. That is a sizable sum of insider money committed to the stock over a single nine-day window, and Courtis himself has been a repeat participant in the run, not a one-time buyer.
A Familiar Name, Buying Again
Courtis’ latest purchase follows closely on the heels of earlier activity covered on this site. Just days before this filing, we reported on his purchases in AMR Insiders Pile In: Kenneth Courtis Buys $630K in $7.1M Spree, which detailed how his buying fit into a then-developing wave of insider purchases at the company. The August 28 transaction extends that involvement further, adding another few hundred thousand dollars to his stake at a slightly higher share price than some of his earlier buys in the window.
Courtis is not the only director whose name has surfaced in this stretch. Fellow director Michael Gorzynski also made a substantial open-market purchase during the same period, a $2.09 million buy that we covered separately. Multiple directors independently putting personal capital into the stock within the same short window is a large part of why this filing gets flagged as a cluster buy rather than treated as a standalone data point.
Why the Pattern Matters
Academic research on insider trading has generally found that clustered buying — several insiders purchasing shares independently over a short period — tends to correlate with above-average stock performance in the periods that follow, more so than isolated single-insider purchases. That is a statistical pattern observed across large datasets of filings, not a prediction about any particular company or transaction, and this filing should be read as a disclosure of activity rather than a signal to act on.
What the record shows plainly is that insiders at Alpha Metallurgical Resources, including at least two directors, have collectively committed more than $8.28 million of personal money to open-market share purchases in just over a week, with Courtis’ August 28 purchase being the most recent addition to that tally.
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Source: original SEC Form 4 filing.