Insider Buying: Kenneth D. Russell Purchases 10,000 Shares of First Acceptance Stock (FAC)
First Acceptance (NYSE:FAC) Director Kenneth D. Russell acquired 10,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were purchased at an average price of $2.35 per share, with a total value of $23,500.00. Following the purchase, the director now directly owns 11,000 shares in the company, valued at approximately $25,850. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Shares of First Acceptance (NYSE:FAC) traded up 0.84% during mid-day trading on Tuesday, hitting $2.39. The stock had a trading volume of 29,093 shares. First Acceptance has a 52-week low of $1.45 and a 52-week high of $2.95. The stock has a 50-day moving average of $2.42 and a 200-day moving average of $2.41. The company has a market cap of $97.9 million and a price-to-earnings ratio of 13.17.
A number of analysts have recently weighed in on FAC shares. Analysts at TheStreet downgraded shares of First Acceptance from a “buy” rating to a “hold” rating in a research note on Tuesday, June 3rd.
First Acceptance Corporation is a retailer, servicer and underwriter of non-standard personal automobile insurance based in Nashville, Tennessee.
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