Atlas Financial Holdings, Inc. (AFH) Downgraded to Hold at Zacks Investment Research
Atlas Financial Holdings, Inc. (NASDAQ:AFH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States. “
AFH has been the subject of a number of other research reports. Boenning Scattergood reiterated a “buy” rating on shares of Atlas Financial Holdings in a research note on Tuesday, August 8th. ValuEngine upgraded Atlas Financial Holdings from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. Finally, TheStreet upgraded Atlas Financial Holdings from a “c” rating to a “b-” rating in a research note on Friday, August 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Atlas Financial Holdings currently has an average rating of “Buy” and an average price target of $18.67.
Shares of Atlas Financial Holdings (NASDAQ AFH) traded up 1.53% during mid-day trading on Tuesday, hitting $19.90. The company had a trading volume of 18,821 shares. The firm has a 50-day moving average of $17.81 and a 200-day moving average of $15.31. Atlas Financial Holdings has a 12 month low of $12.15 and a 12 month high of $20.05. The company has a market cap of $239.40 million, a PE ratio of 80.57 and a beta of 0.89.
Atlas Financial Holdings (NASDAQ:AFH) last posted its earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.30. Atlas Financial Holdings had a negative return on equity of 3.32% and a net margin of 1.67%. The business had revenue of $55.70 million during the quarter, compared to analyst estimates of $58.50 million. On average, analysts expect that Atlas Financial Holdings will post $1.65 EPS for the current year.
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In other Atlas Financial Holdings news, insider Kingsway America Inc sold 1,936 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $17.10, for a total transaction of $33,105.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 100,000 shares of company stock valued at $1,665,780. 12.70% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in AFH. Bank of New York Mellon Corp lifted its holdings in Atlas Financial Holdings by 2.0% during the 1st quarter. Bank of New York Mellon Corp now owns 35,864 shares of the insurance provider’s stock worth $490,000 after buying an additional 710 shares during the last quarter. Oxford Asset Management lifted its holdings in Atlas Financial Holdings by 24.3% during the 1st quarter. Oxford Asset Management now owns 26,383 shares of the insurance provider’s stock worth $360,000 after buying an additional 5,153 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Atlas Financial Holdings by 48.4% during the 1st quarter. Prudential Financial Inc. now owns 35,835 shares of the insurance provider’s stock worth $489,000 after buying an additional 11,683 shares during the last quarter. Royce & Associates LP lifted its holdings in Atlas Financial Holdings by 39.8% during the 1st quarter. Royce & Associates LP now owns 304,800 shares of the insurance provider’s stock worth $4,161,000 after buying an additional 86,800 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Atlas Financial Holdings by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 75,786 shares of the insurance provider’s stock worth $1,034,000 after buying an additional 2,608 shares during the last quarter. 79.06% of the stock is currently owned by institutional investors.
About Atlas Financial Holdings
Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.
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