Hallmark Financial Services, Inc. (NASDAQ:HALL) was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating in a research report issued on Friday.

Separately, Zacks Investment Research upgraded shares of Hallmark Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, July 17th.

Hallmark Financial Services (NASDAQ:HALL) opened at 11.03 on Friday. The firm has a 50 day moving average of $11.17 and a 200-day moving average of $10.94. Hallmark Financial Services has a one year low of $9.71 and a one year high of $12.09. The firm has a market cap of $200.48 million, a price-to-earnings ratio of 112.55 and a beta of 0.82.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Hallmark Financial Services during the second quarter valued at $6,906,000. Chartwell Investment Partners LLC acquired a new stake in Hallmark Financial Services during the second quarter valued at approximately $5,974,000. Emerald Acquisition Ltd. acquired a new stake in Hallmark Financial Services during the second quarter valued at approximately $5,340,000. Russell Investments Group Ltd. acquired a new stake in Hallmark Financial Services during the fourth quarter valued at approximately $4,849,000. Finally, Cove Street Capital LLC increased its stake in Hallmark Financial Services by 25.8% in the second quarter. Cove Street Capital LLC now owns 1,991,696 shares of the insurance provider’s stock valued at $23,084,000 after buying an additional 409,047 shares in the last quarter. Hedge funds and other institutional investors own 65.59% of the company’s stock.

About Hallmark Financial Services

Hallmark Financial Services, Inc is an insurance holding company. The Company markets, distributes, underwrites and services its property/casualty insurance products to businesses and individuals. Its business involves marketing, distributing, underwriting and servicing insurance products, as well as providing other insurance related services.

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