Short Interest in United Insurance Holdings Corp (UIHC) Drops By 31.9%

United Insurance Holdings Corp (NASDAQ:UIHC) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 686,560 shares, a drop of 31.9% from the January 12th total of 1,007,852 shares. Based on an average daily volume of 169,537 shares, the days-to-cover ratio is presently 4.0 days. Currently, 2.9% of the shares of the company are short sold.

United Insurance (NASDAQ:UIHC) opened at $18.65 on Monday. United Insurance has a twelve month low of $13.60 and a twelve month high of $20.31. The stock has a market capitalization of $797.34, a PE ratio of -23.31, a P/E/G ratio of 0.41 and a beta of 1.65.

In other news, Director Michael Hogan acquired 2,500 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were bought at an average price of $16.45 per share, with a total value of $41,125.00. Following the completion of the acquisition, the director now owns 57,438 shares in the company, valued at approximately $944,855.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alec Poitevint II acquired 1,500 shares of the company’s stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $16.71 per share, for a total transaction of $25,065.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $334,200. The disclosure for this purchase can be found here. Company insiders own 22.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UIHC. First Quadrant L P CA purchased a new position in shares of United Insurance during the third quarter worth about $101,000. Municipal Employees Retirement System of Michigan lifted its position in United Insurance by 82.9% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,720 shares of the insurance provider’s stock valued at $126,000 after purchasing an additional 3,500 shares during the period. BNP Paribas Arbitrage SA lifted its position in United Insurance by 88.6% in the third quarter. BNP Paribas Arbitrage SA now owns 10,119 shares of the insurance provider’s stock valued at $165,000 after purchasing an additional 4,754 shares during the period. Thrivent Financial For Lutherans lifted its position in United Insurance by 7.2% in the second quarter. Thrivent Financial For Lutherans now owns 10,750 shares of the insurance provider’s stock valued at $169,000 after purchasing an additional 720 shares during the period. Finally, Stevens Capital Management LP acquired a new stake in United Insurance in the third quarter valued at about $209,000. 31.59% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on UIHC. Zacks Investment Research lowered United Insurance from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. BidaskClub raised United Insurance from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Keefe, Bruyette & Woods set a $21.00 price target on United Insurance and gave the stock a “buy” rating in a report on Monday, January 15th. ValuEngine lowered United Insurance from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Wells Fargo & Co reissued a “buy” rating and set a $18.00 price target on shares of United Insurance in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.50.

WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/12/short-interest-in-united-insurance-holdings-corp-uihc-drops-by-31-9.html.

United Insurance Company Profile

United Insurance Holdings Corp. is a property and casualty insurance holding company that sources, writes and services residential property and casualty insurance policies using a network of agents and a group of insurance subsidiaries. The Company’s insurance subsidiary is United Property & Casualty Insurance Company.

Receive News & Ratings for United Insurance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Insurance and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply