Patriot National Inc. (PN) Shares Up 12%
Patriot National Inc. (NYSE:PN)’s share price shot up 12% on Wednesday . The stock traded as high as $8.41 and last traded at $8.39, with a volume of 166,943 shares changing hands. The stock had previously closed at $7.49.
Several research firms have weighed in on PN. Zacks Investment Research raised Patriot National from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Compass Point cut Patriot National from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $10.00 in a research note on Friday, May 13th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Patriot National has an average rating of “Hold” and an average price target of $10.00.
The stock has a market capitalization of $214.65 million and a price-to-earnings ratio of 76.19. The stock’s 50 day moving average is $7.80 and its 200 day moving average is $7.19.
Patriot National (NYSE:PN) last posted its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.02. The business earned $64.60 million during the quarter, compared to analysts’ expectations of $62.35 million. Equities research analysts anticipate that Patriot National Inc. will post $0.97 earnings per share for the current year.
An institutional investor recently raised its position in Patriot National stock. Brown Advisory Inc. increased its position in shares of Patriot National Inc. (NYSE:PN) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 854,146 shares of the company’s stock after buying an additional 23,147 shares during the period. Brown Advisory Inc. owned 3.16% of Patriot National worth $5,732,000 as of its most recent SEC filing.
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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