Patriot National Inc. (PN) Sees Large Volume Increase
Patriot National Inc. (NYSE:PN) saw unusually-high trading volume on Monday . Approximately 624,727 shares traded hands during trading, an increase of 305% from the previous session’s volume of 154,124 shares.The stock last traded at $9.55 and had previously closed at $7.89.
PN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Patriot National from a “sell” rating to a “hold” rating in a research report on Thursday, July 14th. Compass Point lowered shares of Patriot National from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $13.00 to $10.00 in a research report on Friday, May 13th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $10.00.
The stock has a market capitalization of $254.63 million and a price-to-earnings ratio of 90.38. The stock has a 50-day moving average of $7.94 and a 200-day moving average of $7.26.
Patriot National (NYSE:PN) last posted its quarterly earnings results on Thursday, May 12th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company earned $64.60 million during the quarter, compared to analyst estimates of $62.35 million. On average, analysts forecast that Patriot National Inc. will post $0.97 earnings per share for the current fiscal year.
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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