Boenning Scattergood Comments on Atlas Financial Holdings Inc’s FY2017 Earnings (AFH)

Atlas Financial Holdings Inc (NASDAQ:AFH) – Research analysts at Boenning Scattergood decreased their FY2017 earnings per share estimates for shares of Atlas Financial in a research note issued on Monday. Boenning Scattergood analyst R. Farnam now forecasts that the insurance provider will earn $1.18 per share for the year, down from their previous estimate of $1.59. Boenning Scattergood currently has a “Buy” rating on the stock. Boenning Scattergood also issued estimates for Atlas Financial’s Q4 2017 earnings at ($0.09) EPS.

A number of other equities analysts have also recently issued reports on the company. BidaskClub upgraded Atlas Financial from a “hold” rating to a “buy” rating in a report on Wednesday, January 24th. Sandler O’Neill restated a “buy” rating and set a $24.00 price target on shares of Atlas Financial in a report on Wednesday, January 10th. Zacks Investment Research upgraded Atlas Financial from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Monday, December 25th. Finally, ValuEngine upgraded Atlas Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $20.75.

Shares of Atlas Financial (NASDAQ AFH) opened at $20.25 on Wednesday. Atlas Financial has a twelve month low of $12.15 and a twelve month high of $21.50. The company has a market capitalization of $241.22, a P/E ratio of 144.65 and a beta of 0.88. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.17.

Atlas Financial (NASDAQ:AFH) last announced its earnings results on Monday, November 6th. The insurance provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.21. Atlas Financial had a negative return on equity of 2.57% and a net margin of 0.92%.

Several large investors have recently modified their holdings of AFH. Northpointe Capital LLC purchased a new stake in Atlas Financial in the 3rd quarter valued at $2,899,000. Wasatch Advisors Inc. raised its position in Atlas Financial by 13.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 780,955 shares of the insurance provider’s stock valued at $14,760,000 after buying an additional 90,246 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Atlas Financial by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 268,143 shares of the insurance provider’s stock valued at $3,995,000 after buying an additional 64,629 shares during the last quarter. GMT Capital Corp purchased a new stake in Atlas Financial in the 3rd quarter valued at $902,000. Finally, Vanguard Group Inc. raised its position in Atlas Financial by 11.0% in the 2nd quarter. Vanguard Group Inc. now owns 457,267 shares of the insurance provider’s stock valued at $6,813,000 after buying an additional 45,156 shares during the last quarter. 80.66% of the stock is currently owned by institutional investors.

In other news, Director Walter Frederick Walker sold 63,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $20.04, for a total transaction of $1,278,552.00. Following the transaction, the director now directly owns 82,182 shares of the company’s stock, valued at $1,646,927.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott D. Wollney sold 4,852 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $18.75, for a total value of $90,975.00. Following the transaction, the chief executive officer now directly owns 340,524 shares in the company, valued at $6,384,825. The disclosure for this sale can be found here. Insiders have sold a total of 179,029 shares of company stock worth $3,549,810 over the last 90 days. Company insiders own 13.30% of the company’s stock.

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Atlas Financial Company Profile

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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