ValuEngine Upgrades Atlas Financial Holdings, Inc. (AFH) to “Hold”
Atlas Financial Holdings, Inc. (NASDAQ:AFH) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
A number of other analysts also recently weighed in on the company. TheStreet upgraded Atlas Financial Holdings from a “c” rating to a “b-” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded Atlas Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, August 15th. Finally, Boenning Scattergood restated a “buy” rating on shares of Atlas Financial Holdings in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Atlas Financial Holdings presently has an average rating of “Buy” and a consensus price target of $18.67.
Shares of Atlas Financial Holdings (NASDAQ:AFH) traded up 0.55% on Friday, hitting $18.30. The stock had a trading volume of 14,120 shares. Atlas Financial Holdings has a 12 month low of $12.15 and a 12 month high of $18.60. The stock has a market cap of $220.15 million, a P/E ratio of 74.09 and a beta of 0.87. The firm has a 50 day moving average of $16.53 and a 200 day moving average of $14.67.
Atlas Financial Holdings (NASDAQ:AFH) last posted its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.30. Atlas Financial Holdings had a negative return on equity of 3.32% and a net margin of 1.67%. The firm had revenue of $55.70 million for the quarter, compared to the consensus estimate of $58.50 million. On average, equities analysts forecast that Atlas Financial Holdings will post $1.66 earnings per share for the current fiscal year.
In related news, insider Kingsway America Inc sold 33,684 shares of Atlas Financial Holdings stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $16.72, for a total value of $563,196.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Walter Frederick Walker purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $70,400.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 128,191 shares of company stock worth $2,091,464. Company insiders own 12.70% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AFH. Goldman Sachs Group Inc. purchased a new stake in Atlas Financial Holdings during the second quarter worth $151,000. Citadel Advisors LLC purchased a new stake in Atlas Financial Holdings during the second quarter worth $161,000. Parametric Portfolio Associates LLC purchased a new stake in Atlas Financial Holdings during the second quarter worth $165,000. Rhumbline Advisers boosted its position in Atlas Financial Holdings by 2.5% during the second quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock worth $175,000 after purchasing an additional 290 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Atlas Financial Holdings by 16.6% during the second quarter. Teachers Advisors LLC now owns 20,463 shares of the insurance provider’s stock worth $305,000 after purchasing an additional 2,914 shares in the last quarter. Institutional investors own 79.06% of the company’s stock.
About Atlas Financial Holdings
Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.
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