AmTrust Financial Services Insider Sells $275,543 in Stock (AFSI)
AmTrust Financial Services (NASDAQ:AFSI) Insider Max G. Caviet sold 6,630 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $41.56, for a total transaction of $275,542.80. Following the transaction, the insider now directly owns 154,450 shares in the company, valued at approximately $6,418,942. The transaction was disclosed in a filing with the SEC, which is available at this link.
AmTrust Financial Services (NASDAQ:AFSI) traded up 0.47% during mid-day trading on Monday, hitting $42.49. The stock had a trading volume of 140,084 shares. AmTrust Financial Services has a 52-week low of $27.90 and a 52-week high of $47.10. The stock has a 50-day moving average of $42.02 and a 200-day moving average of $38.64. The company has a market cap of $3.205 billion and a price-to-earnings ratio of 10.95. AmTrust Financial Services also was the target of a large decrease in short interest in July. As of July 15th, there was short interest totalling 8,982,664 shares, a decrease of 24.7% from the June 30th total of 11,931,490 shares. Based on an average daily trading volume, of 494,495 shares, the days-to-cover ratio is presently 18.2 days. Approximately 29.9% of the shares of the company are short sold.
AmTrust Financial Services (NASDAQ:AFSI) last posted its quarterly earnings results 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. Analysts expect that AmTrust Financial Services will post $4.41 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of AmTrust Financial Services from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 15th. They now have a $49.10 price target on the stock. Finally, 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, 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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