1347 Property Insurance Holdings Inc (NASDAQ:PIH) Sees Large Drop in Short Interest

1347 Property Insurance Holdings Inc (NASDAQ:PIH) saw a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,800 shares, a decrease of 30.8% from the July 31st total of 2,600 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 6,900 shares, the days-to-cover ratio is currently 0.3 days.

Several analysts have recently issued reports on PIH shares. ValuEngine upgraded 1347 Property Insurance from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. TheStreet downgraded 1347 Property Insurance from a “c-” rating to a “d+” rating in a research note on Friday, July 12th.

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG boosted its stake in 1347 Property Insurance by 18.6% during the 4th quarter. Deutsche Bank AG now owns 22,538 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 3,542 shares during the period. Morgan Stanley boosted its stake in 1347 Property Insurance by 26.4% during the 2nd quarter. Morgan Stanley now owns 10,135 shares of the insurance provider’s stock valued at $51,000 after purchasing an additional 2,114 shares during the period. Vanguard Group Inc. boosted its stake in 1347 Property Insurance by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,637 shares of the insurance provider’s stock valued at $236,000 after purchasing an additional 2,600 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in 1347 Property Insurance by 12.3% during the 2nd quarter. Renaissance Technologies LLC now owns 111,062 shares of the insurance provider’s stock valued at $550,000 after purchasing an additional 12,144 shares during the period. Hedge funds and other institutional investors own 38.17% of the company’s stock.

Shares of PIH traded up $0.07 during trading hours on Friday, hitting $4.85. 3,000 shares of the company were exchanged, compared to its average volume of 8,438. The firm’s 50 day moving average is $4.97 and its 200-day moving average is $5.28. 1347 Property Insurance has a 52 week low of $3.75 and a 52 week high of $7.20.

About 1347 Property Insurance

1347 Property Insurance Holdings, Inc, an insurance holding company, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners' insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

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