1347 Property Insurance Holdings Inc (NASDAQ:PIH) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,600 shares, a growth of 13.0% from the September 30th total of 2,300 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 2,500 shares, the short-interest ratio is presently 1.0 days.
Separately, ValuEngine upgraded shares of 1347 Property Insurance from a “hold” rating to a “buy” rating in a report on Friday, August 2nd.
1347 Property Insurance stock traded down $0.03 during trading on Friday, hitting $4.62. The company had a trading volume of 4,800 shares, compared to its average volume of 2,736. 1347 Property Insurance has a 1-year low of $3.75 and a 1-year high of $6.10. The company’s 50 day simple moving average is $4.68 and its 200-day simple moving average is $5.06.
Several institutional investors have recently modified their holdings of PIH. Renaissance Technologies LLC grew its position in 1347 Property Insurance by 12.3% during the second quarter. Renaissance Technologies LLC now owns 111,062 shares of the insurance provider’s stock worth $550,000 after buying an additional 12,144 shares during the period. Vanguard Group Inc. lifted its holdings in shares of 1347 Property Insurance by 5.8% in the second 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 in the last quarter. Finally, Morgan Stanley lifted its stake in shares of 1347 Property Insurance by 26.4% during the second quarter. Morgan Stanley now owns 10,135 shares of the insurance provider’s stock valued at $51,000 after buying an additional 2,114 shares during the period. Institutional investors and hedge funds own 38.17% of the company’s stock.
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.
See Also: Gross Domestic Product (GDP)
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