United Insurance Holdings Corp (NASDAQ:UIHC) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 588,300 shares, an increase of 9.0% from the December 15th total of 539,700 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 98,600 shares, the days-to-cover ratio is presently 6.0 days.
In other news, Director Sherrill W. Hudson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was acquired at an average price of $12.69 per share, with a total value of $126,900.00. Following the purchase, the director now owns 148,403 shares in the company, valued at approximately $1,883,234.07. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 12,934 shares of company stock valued at $164,585. 52.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in UIHC. Bank of Montreal Can boosted its position in United Insurance by 183.6% during the second quarter. Bank of Montreal Can now owns 2,408 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 1,559 shares during the period. Tower Research Capital LLC TRC bought a new stake in United Insurance during the second quarter worth approximately $45,000. Integre Asset Management LLC bought a new stake in United Insurance during the second quarter worth approximately $155,000. Citadel Advisors LLC boosted its position in United Insurance by 111.0% during the second quarter. Citadel Advisors LLC now owns 11,789 shares of the insurance provider’s stock worth $168,000 after purchasing an additional 118,615 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in United Insurance by 116.9% during the third quarter. State of Alaska Department of Revenue now owns 15,943 shares of the insurance provider’s stock worth $223,000 after purchasing an additional 8,592 shares during the period. 35.67% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ UIHC opened at $10.66 on Wednesday. The stock has a market cap of $473.85 million, a price-to-earnings ratio of 28.05, a PEG ratio of 0.69 and a beta of 1.19. The business has a 50 day simple moving average of $12.20 and a 200 day simple moving average of $12.73. United Insurance has a 52 week low of $10.62 and a 52 week high of $16.98.
United Insurance (NASDAQ:UIHC) last announced its earnings results on Wednesday, October 30th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.65) by $1.33. The firm had revenue of $204.97 million during the quarter, compared to analysts’ expectations of $206.18 million. United Insurance had a negative return on equity of 5.55% and a negative net margin of 4.12%. Analysts predict that United Insurance will post -0.37 EPS for the current fiscal year.
Several equities research analysts recently commented on UIHC shares. Zacks Investment Research raised United Insurance from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. ValuEngine cut United Insurance from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 3rd. BidaskClub cut United Insurance from a “sell” rating to a “strong sell” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Co cut United Insurance from an “equal weight” rating to an “underweight” rating and set a $12.50 price target for the company. in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.75.
About United Insurance
United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners, as well as dwelling fire policies.
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