Maiden Holdings, Ltd. (MHLD) Shares Up 6.9%
Maiden Holdings, Ltd. (NASDAQ:MHLD) shares shot up 6.9% during trading on Friday . The company traded as high as $7.80 and last traded at $7.75. 2,456,331 shares traded hands during mid-day trading, an increase of 309% from the average session volume of 600,333 shares. The stock had previously closed at $7.25.
A number of research firms recently commented on MHLD. Keefe, Bruyette & Woods cut Maiden Holdings from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $17.00 to $10.00 in a report on Thursday, August 10th. JMP Securities reissued a “mkt outperform” rating and issued a $9.00 price target on shares of Maiden Holdings in a report on Thursday, August 10th. BidaskClub raised Maiden Holdings from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Zacks Investment Research raised Maiden Holdings from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, FBR & Co reissued a “hold” rating and issued a $13.00 price target on shares of Maiden Holdings in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.50.
The company has a 50-day moving average price of $8.08 and a 200-day moving average price of $11.18. The firm’s market cap is $671.31 million.
Maiden Holdings (NASDAQ:MHLD) last issued its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.43). Maiden Holdings had a negative net margin of 0.61% and a negative return on equity of 0.55%. The business had revenue of $753.18 million during the quarter, compared to analyst estimates of $740.30 million. Equities analysts anticipate that Maiden Holdings, Ltd. will post $0.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a $0.15 dividend. The ex-dividend date is Friday, September 29th. This represents a $0.60 annualized dividend and a dividend yield of 7.74%. Maiden Holdings’s dividend payout ratio (DPR) is presently -120.00%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MHLD. SG Americas Securities LLC purchased a new position in shares of Maiden Holdings in the second quarter valued at approximately $115,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Maiden Holdings in the second quarter valued at approximately $115,000. Koch Industries Inc. purchased a new position in shares of Maiden Holdings in the second quarter valued at approximately $126,000. Quantum Capital Management lifted its position in shares of Maiden Holdings by 1.8% in the second quarter. Quantum Capital Management now owns 11,890 shares of the insurance provider’s stock valued at $132,000 after acquiring an additional 209 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in shares of Maiden Holdings by 8.1% in the second quarter. JFS Wealth Advisors LLC now owns 13,481 shares of the insurance provider’s stock valued at $150,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 67.06% of the company’s stock.
About Maiden Holdings
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses 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. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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