Insider Selling: Mercury General Corp. VP Sells 1,250 Shares of Stock (MCY)
Mercury General Corp. (NYSE:MCY) VP Brandt Minnich unloaded 1,250 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $45.39, for a total transaction of $56,737.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Separately, analysts at Zacks upgraded shares of Mercury General Corp. (NYSE:MCY) from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, July 30th. They now have a $47.00 price target on the stock.
Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Mercury General Corp. presently has an average rating of “Hold” and an average price target of $43.00.
Mercury General Corp. (NYSE:MCY) traded up 0.92% on Friday, hitting $46.04. 121,136 shares of the company’s stock traded hands. Mercury General Corp. has a 52-week low of $36.03 and a 52-week high of $46.98. The stock’s 50-day moving average is $44.3 and its 200-day moving average is $42.65. The company has a market cap of $2.530 billion and a P/E ratio of 23.64.
Mercury General Corp. (NYSE:MCY) last released its earnings data on Monday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.01. The company had revenue of $642.57 million for the quarter, compared to the consensus estimate of $713.40 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.
Mercury General Corporation (NYSE:MCY) is an insurance holding company.
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