Maiden Holdings, Ltd. (MHLD) Raised to Hold at Zacks Investment Research
Maiden Holdings, Ltd. (NASDAQ:MHLD) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “MAIDEN HOLDINGS is a Bermuda holding company which offers customized reinsurance products and services through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to subsidiaries of AmTrust Financial Services, Inc. and small insurance companies and managing general agents in the United States and Europe. “
Other research analysts also recently issued research reports about the stock. FBR & Co lowered their price objective on shares of Maiden Holdings from $13.00 to $12.00 and set a “mkt perform” rating on the stock in a report on Tuesday, July 11th. BidaskClub downgraded shares of Maiden Holdings from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. JMP Securities restated a “mkt outperform” rating and set a $9.00 price objective on shares of Maiden Holdings in a report on Thursday, August 10th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $19.00 price objective on shares of Maiden Holdings in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Maiden Holdings presently has a consensus rating of “Hold” and an average price target of $11.50.
Maiden Holdings (MHLD) traded up 1.33% on Tuesday, reaching $7.60. 409,711 shares of the company were exchanged. The company’s 50-day moving average price is $8.48 and its 200-day moving average price is $11.37. The stock’s market capitalization is $658.31 million. Maiden Holdings has a 12-month low of $6.25 and a 12-month high of $18.95.
Maiden Holdings (NASDAQ:MHLD) last released its quarterly earnings data on Tuesday, August 8th. The insurance provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.43). Maiden Holdings had a negative return on equity of 0.55% and a negative net margin of 0.61%. The business had revenue of $753.18 million for the quarter, compared to analyst estimates of $740.30 million. Equities research analysts anticipate that Maiden Holdings will post $0.74 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Maiden Holdings in the second quarter valued at about $115,000. Koch Industries Inc. purchased a new stake in shares of Maiden Holdings in the second quarter valued at about $126,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Maiden Holdings in the second quarter valued at about $179,000. The Manufacturers Life Insurance Company raised its holdings in shares of Maiden Holdings by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 56,148 shares of the insurance provider’s stock valued at $622,000 after purchasing an additional 2,736 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Maiden Holdings by 2.2% in the second quarter. Royal Bank of Canada now owns 81,347 shares of the insurance provider’s stock valued at $902,000 after purchasing an additional 1,720 shares during the last quarter. Institutional investors own 67.06% of the company’s stock.
Maiden Holdings Company Profile
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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