Palomar Holdings Inc (NASDAQ:PLMR) Major Shareholder Vi Gp Aiv Ltd. Genstar Sells 5,153,500 Shares

Palomar Holdings Inc (NASDAQ:PLMR) major shareholder Vi Gp Aiv Ltd. Genstar sold 5,153,500 shares of Palomar stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $35.04, for a total transaction of $180,578,640.00. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of PLMR traded down $1.25 during trading hours on Wednesday, hitting $37.29. The stock had a trading volume of 10,125 shares, compared to its average volume of 226,517. The business’s 50-day moving average is $35.21. Palomar Holdings Inc has a fifty-two week low of $18.06 and a fifty-two week high of $40.99.

Palomar (NASDAQ:PLMR) last posted its earnings results on Monday, August 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. The firm had revenue of $25.41 million during the quarter, compared to analyst estimates of $24.25 million. Analysts forecast that Palomar Holdings Inc will post 1.74 earnings per share for the current fiscal year.

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. SunTrust Banks lifted their price objective on shares of Palomar to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Barclays lifted their price objective on shares of Palomar from $30.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Palomar from $28.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Zacks Investment Research upgraded shares of Palomar from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $39.20.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new position in shares of Palomar in the 2nd quarter worth $36,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Palomar in the 2nd quarter worth about $201,000. Kornitzer Capital Management Inc. KS bought a new stake in shares of Palomar in the 2nd quarter worth about $2,449,000. One Tusk Investment Partners LP bought a new stake in shares of Palomar in the 2nd quarter worth about $2,404,000. Finally, Axiom International Investors LLC DE bought a new stake in shares of Palomar in the 2nd quarter worth about $1,419,000. Hedge funds and other institutional investors own 25.98% of the company’s stock.

About Palomar

There is no company description available for Palomar Holdings Inc

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