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.
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.
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.
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