Conifer (NASDAQ:CNFR) Shares Pass Below Fifty Day Moving Average – Here’s Why

Conifer Holdings, Inc. (NASDAQ:CNFR)’s stock price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.75 and traded as low as $0.74. Conifer shares last traded at $0.76, with a volume of 3,591 shares traded.

Conifer Stock Performance

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $9.32 million, a price-to-earnings ratio of 0.39 and a beta of 0.71. The stock’s 50 day moving average price is $0.75 and its two-hundred day moving average price is $0.86.

Conifer (NASDAQ:CNFR) last posted its quarterly earnings results on Wednesday, May 14th. The insurance provider reported ($0.30) earnings per share for the quarter. Conifer had a negative return on equity of 179.36% and a net margin of 33.54%.

Insider Transactions at Conifer

In other Conifer news, Director Joseph D. Sarafa acquired 100,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were purchased at an average cost of $0.53 per share, with a total value of $53,000.00. Following the purchase, the director now owns 350,000 shares in the company, valued at approximately $185,500. The trade was a 40.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 138,000 shares of company stock valued at $75,320 in the last ninety days. 50.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Conifer

An institutional investor recently bought a new position in Conifer stock. Citadel Advisors LLC bought a new stake in Conifer Holdings, Inc. (NASDAQ:CNFR) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 22,412 shares of the insurance provider’s stock, valued at approximately $26,000. Citadel Advisors LLC owned approximately 0.18% of Conifer at the end of the most recent quarter. 34.88% of the stock is owned by institutional investors.

About Conifer

Conifer Holdings, Inc, an insurance holding company, engages in the sale of property and casualty insurance products. The company offers insurance coverage in specialty commercial and personal product lines. It also underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies.