Markel Co. (NYSE:MKL) Short Interest Update

Markel Co. (NYSE:MKL) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 85,100 shares, a drop of 25.0% from the August 15th total of 113,400 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 40,100 shares, the days-to-cover ratio is presently 2.1 days.

In other news, Director Anthony F. Markel sold 62 shares of Markel stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $1,281.50, for a total transaction of $79,453.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MKL. Regency Capital Management Inc. DE acquired a new stake in shares of Markel during the first quarter worth $28,000. PNC Managed Account Solutions Inc. acquired a new stake in shares of Markel during the second quarter worth $30,000. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in shares of Markel during the second quarter worth $33,000. Mach 1 Financial Group Inc. increased its position in shares of Markel by 100.0% during the second quarter. Mach 1 Financial Group Inc. now owns 36 shares of the insurance provider’s stock worth $42,000 after buying an additional 18 shares during the period. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Markel during the second quarter worth $77,000. Hedge funds and other institutional investors own 76.30% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Markel from a “sell” rating to a “hold” rating and set a $1,304.00 price target on the stock in a research note on Friday, August 6th.

Shares of MKL stock traded up $2.54 during midday trading on Tuesday, hitting $1,201.13. 28,743 shares of the company were exchanged, compared to its average volume of 49,905. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $16.49 billion, a P/E ratio of 6.34 and a beta of 0.70. Markel has a 52 week low of $913.04 and a 52 week high of $1,288.00. The firm’s 50 day moving average price is $1,238.60 and its two-hundred day moving average price is $1,205.49.

Markel (NYSE:MKL) last issued its quarterly earnings results on Tuesday, August 3rd. The insurance provider reported $19.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $15.45 by $3.69. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.54 billion. Markel had a net margin of 21.04% and a return on equity of 5.90%. Analysts expect that Markel will post 60.4 EPS for the current year.

About Markel

Markel Corp. is a financial holding company, which engages in underwriting specialty insurance products for a variety of niche markets. It operates through the following segments: Insurance and Reinsurance. The Insurance segment includes all direct business and facultative placements written within the company’s underwriting operations.

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