Militia Capital Management LLC Acquires New Position in American Coastal Insurance Corporation $ACIC

Militia Capital Management LLC acquired a new stake in American Coastal Insurance Corporation (NASDAQ:ACIC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 200,658 shares of the company’s stock, valued at approximately $2,257,000. Militia Capital Management LLC owned 0.41% of American Coastal Insurance at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of American Coastal Insurance by 549.9% during the second quarter. JPMorgan Chase & Co. now owns 118,616 shares of the company’s stock worth $1,319,000 after acquiring an additional 100,365 shares during the period. Russell Investments Group Ltd. grew its stake in American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock worth $30,000 after purchasing an additional 2,615 shares in the last quarter. Quantbot Technologies LP grew its stake in American Coastal Insurance by 762.8% in the second quarter. Quantbot Technologies LP now owns 32,374 shares of the company’s stock worth $360,000 after purchasing an additional 28,622 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in American Coastal Insurance during the 2nd quarter worth $767,000. Finally, Invesco Ltd. increased its holdings in American Coastal Insurance by 9.7% during the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock worth $219,000 after purchasing an additional 1,736 shares during the period. 22.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research cut American Coastal Insurance from a “hold” rating to a “strong sell” rating in a report on Thursday, May 21st. Weiss Ratings upgraded American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded American Coastal Insurance from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, American Coastal Insurance has a consensus rating of “Hold”.

American Coastal Insurance Stock Performance

NASDAQ ACIC opened at $9.94 on Thursday. The firm’s 50 day moving average price is $10.72 and its 200-day moving average price is $11.09. American Coastal Insurance Corporation has a 52-week low of $9.80 and a 52-week high of $13.06. The company has a market cap of $481.69 million, a PE ratio of 4.73, a P/E/G ratio of 3.54 and a beta of -0.51.

American Coastal Insurance (NASDAQ:ACIC) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The business had revenue of $71.22 million for the quarter, compared to analysts’ expectations of $75.78 million. American Coastal Insurance had a net margin of 31.32% and a return on equity of 32.26%. On average, analysts forecast that American Coastal Insurance Corporation will post 0.96 earnings per share for the current fiscal year.

American Coastal Insurance Profile

American Coastal Insurance Company (NASDAQ:ACIC) is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.