Stock Traders Buy High Volume of AmTrust Financial Services Put Options (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) was the recipient of some unusual options trading on Monday. Stock investors acquired 9,323 put options on the stock, American Banking and Market News reports. This represents an increase of 424% compared to the average daily volume of 1,778 put options.
In other AmTrust Financial Services news, EVP Christopher Longo sold 11,655 shares of the company’s stock on the open market in a transaction dated Friday, July 11th. The shares were sold at an average price of $40.75, for a total transaction of $474,941.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AFSI. Analysts at Zacks upgraded shares of AmTrust Financial Services from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $47.10 price target on the stock. Separately, analysts at Compass Point upgraded shares of AmTrust Financial Services from a “neutral” rating to a “buy” rating in a research note on Friday, May 2nd. They now have a $49.00 price target on the stock, up previously from $37.00.
AmTrust Financial Services (NASDAQ:AFSI) traded up 0.56% on Monday, hitting $41.46. The stock had a trading volume of 364,822 shares. AmTrust Financial Services has a 52-week low of $27.90 and a 52-week high of $47.10. The stock’s 50-day moving average is $42.46 and its 200-day moving average is $38.09. The company has a market cap of $3.127 billion and a price-to-earnings ratio of 10.67.
AmTrust Financial Services (NASDAQ:AFSI) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.27 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.36. The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $687.18 million. During the same quarter in the prior year, the company posted $0.81 earnings per share. On average, analysts predict that AmTrust Financial Services will post $4.41 earnings per share for the current fiscal year.
Amtrust Financial Services, Inc is a holding company. The Company is a multinational specialty property and casualty insurer focused on generating consistent underwriting profits.
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