Investors Buy Maiden Holdings Ltd. (MHLD) on Weakness
Investors purchased shares of Maiden Holdings Ltd. (NASDAQ:MHLD) on weakness during trading on Monday. $64.35 million flowed into the stock on the tick-up and $3.24 million flowed out of the stock on the tick-down, for a money net flow of $61.11 million into the stock. Of all equities tracked, Maiden Holdings had the 4th highest net in-flow for the day. Maiden Holdings traded down ($0.14) for the day and closed at $13.83
Several brokerages have weighed in on MHLD. JMP Securities restated a “buy” rating on shares of Maiden Holdings in a research note on Tuesday, June 28th. Zacks Investment Research raised shares of Maiden Holdings from a “strong sell” rating to a “hold” rating in a report on Thursday, April 28th.
The stock has a 50-day moving average price of $12.71 and a 200-day moving average price of $12.75. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 11.10.
Maiden Holdings (NASDAQ:MHLD) last announced its earnings results on Wednesday, May 4th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. During the same period in the previous year, the company earned $0.35 earnings per share. The business had revenue of $659.40 million for the quarter, compared to analysts’ expectations of $609.60 million. Maiden Holdings’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts expect that Maiden Holdings Ltd. will post $1.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.05%. The ex-dividend date was Wednesday, June 29th.
A number of hedge funds and institutional investors have recently bought and sold shares of MHLD. Eagle Asset Management boosted its position in Maiden Holdings by 75.4% in the third quarter. Eagle Asset Management now owns 1,991,532 shares of the company’s stock valued at $27,642,000 after buying an additional 855,982 shares during the period. Matarin Capital Management LLC purchased a new position in Maiden Holdings during the fourth quarter valued at approximately $4,361,000. Dimensional Fund Advisors LP boosted its position in Maiden Holdings by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,440,336 shares of the company’s stock valued at $81,116,000 after buying an additional 253,991 shares during the period. Wells Fargo & Company MN boosted its position in Maiden Holdings by 13.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,152,217 shares of the company’s stock valued at $17,180,000 after buying an additional 132,727 shares during the period. Finally, Bank of Montreal Can boosted its position in Maiden Holdings by 90.6% in the fourth quarter. Bank of Montreal Can now owns 258,386 shares of the company’s stock valued at $3,852,000 after buying an additional 122,798 shares during the period.
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company is focused on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. Maiden operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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