Atlas Financial Holdings, Inc. (NASDAQ:AFH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States. “
A number of other research analysts have also commented on the stock. Boenning Scattergood restated a “buy” rating on shares of Atlas Financial Holdings in a research report on Tuesday, August 8th. ValuEngine upgraded shares of Atlas Financial Holdings from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Finally, TheStreet upgraded shares of Atlas Financial Holdings from a “c” rating to a “b-” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $18.67.
Shares of Atlas Financial Holdings (NASDAQ:AFH) opened at 19.90 on Tuesday. The company has a 50 day moving average price of $17.91 and a 200 day moving average price of $15.34. The company has a market capitalization of $239.40 million, a PE ratio of 80.57 and a beta of 0.89. Atlas Financial Holdings has a 52 week low of $12.15 and a 52 week high of $20.35.
Atlas Financial Holdings (NASDAQ:AFH) last released its quarterly earnings data on Monday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.30. Atlas Financial Holdings had a net margin of 1.67% and a negative return on equity of 3.32%. The business had revenue of $55.70 million during the quarter, compared to analyst estimates of $58.50 million. On average, equities research analysts expect that Atlas Financial Holdings will post $1.66 earnings per share for the current year.
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In other news, insider Kingsway America Inc sold 5,101 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $17.23, for a total transaction of $87,890.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $1,665,780 over the last 90 days. Company insiders own 12.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AFH. Rice Hall James & Associates LLC bought a new stake in shares of Atlas Financial Holdings during the 2nd quarter worth $1,770,000. Pacific Ridge Capital Partners LLC bought a new stake in shares of Atlas Financial Holdings during the 2nd quarter worth $1,582,000. Essex Investment Management Co. LLC bought a new stake in shares of Atlas Financial Holdings during the 2nd quarter worth $1,538,000. Granite Investment Partners LLC bought a new stake in shares of Atlas Financial Holdings during the 2nd quarter worth $1,422,000. Finally, Royce & Associates LP lifted its holdings in shares of Atlas Financial Holdings by 39.8% during the 1st quarter. Royce & Associates LP now owns 304,800 shares of the insurance provider’s stock worth $4,161,000 after acquiring an additional 86,800 shares during the last quarter. 79.06% of the stock is owned by institutional investors.
Atlas Financial Holdings Company Profile
Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.
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