Maiden (MHLD) Rating Lowered to Strong Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Maiden (NASDAQ:MHLD) from a hold rating to a strong sell rating in a report published on Tuesday morning.

According to Zacks, “MAIDEN HOLDINGS is a Bermuda holding company which offers customized reinsurance products and services through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to subsidiaries of AmTrust Financial Services, Inc. and small insurance companies and managing general agents in the United States and Europe. “

MHLD has been the topic of several other reports. FBR & Co reissued a hold rating and set a $11.00 price target on shares of Maiden in a report on Monday, September 25th. Keefe, Bruyette & Woods reissued a hold rating and set a $10.00 price target on shares of Maiden in a report on Friday, November 3rd. BidaskClub cut Maiden from a hold rating to a sell rating in a report on Thursday, December 21st. Finally, B. Riley reissued a neutral rating and set a $10.00 price target on shares of Maiden in a report on Monday, November 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $10.40.

Maiden (MHLD) traded up $0.15 during midday trading on Tuesday, hitting $7.70. The stock had a trading volume of 316,383 shares, compared to its average volume of 725,155. The company has a market cap of $651.61, a PE ratio of -4.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.18 and a quick ratio of 0.18. Maiden has a 12-month low of $5.55 and a 12-month high of $18.95.

Maiden (NASDAQ:MHLD) last released its quarterly earnings results on Wednesday, November 8th. The insurance provider reported ($0.66) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.77). The firm had revenue of $653.87 million for the quarter, compared to the consensus estimate of $708.04 million. Maiden had a negative net margin of 3.95% and a negative return on equity of 9.10%. Maiden’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. analysts expect that Maiden will post -0.35 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $0.60 dividend on an annualized basis and a yield of 7.79%. Maiden’s dividend payout ratio is currently -36.81%.

In related news, Director Raymond Michael Neff bought 46,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $6.40 per share, with a total value of $297,600.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Maiden in the 2nd quarter worth $115,000. Dynamic Technology Lab Private Ltd bought a new position in Maiden in the 2nd quarter worth $115,000. Quantum Capital Management raised its holdings in Maiden by 1.8% in the 2nd quarter. Quantum Capital Management now owns 11,890 shares of the insurance provider’s stock worth $132,000 after purchasing an additional 209 shares during the period. GRT Capital Partners L.L.C. bought a new position in Maiden in the 2nd quarter worth $155,000. Finally, WBI Investments Inc. bought a new position in Maiden in the 2nd quarter worth $157,000. 65.83% of the stock is currently owned by institutional investors.

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Maiden Company Profile

Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.

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