Shares of Atlas Financial Holdings, Inc. (NASDAQ:AFH) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.50.
A number of research firms have recently weighed in on AFH. TheStreet raised Atlas Financial Holdings from a “c” rating to a “b-” rating in a report on Friday, August 18th. Zacks Investment Research raised Atlas Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $19.00 target price for the company in a report on Tuesday, August 15th. Boenning Scattergood reissued a “buy” rating on shares of Atlas Financial Holdings in a report on Tuesday, August 8th. ValuEngine downgraded Atlas Financial Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Finally, JMP Securities began coverage on Atlas Financial Holdings in a report on Wednesday, May 24th. They set an “outperform” rating and a $18.00 target price for the company.
Shares of Atlas Financial Holdings (AFH) traded down 0.59% during mid-day trading on Wednesday, hitting $16.75. 25,558 shares of the stock were exchanged. The firm has a 50-day moving average price of $15.81 and a 200 day moving average price of $14.52. The company has a market capitalization of $201.50 million, a PE ratio of 67.81 and a beta of 0.86. Atlas Financial Holdings has a 12-month low of $12.15 and a 12-month high of $18.40.
Atlas Financial Holdings (NASDAQ:AFH) last announced its quarterly earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $58.50 million. On average, equities research analysts expect that Atlas Financial Holdings will post $1.66 earnings per share for the current year.
In related news, insider Kingsway America Inc sold 33,684 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $16.72, for a total value of $563,196.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter Frederick Walker bought 5,000 shares of the firm’s stock in a transaction on Tuesday, July 11th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $70,400.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 98,191 shares of company stock valued at $1,582,258. 12.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new position in Atlas Financial Holdings during the second quarter worth about $151,000. Citadel Advisors LLC acquired a new position in Atlas Financial Holdings during the second quarter worth about $161,000. Parametric Portfolio Associates LLC acquired a new position in Atlas Financial Holdings during the second quarter worth about $165,000. Rhumbline Advisers boosted its position in Atlas Financial Holdings by 2.5% in the second quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock worth $175,000 after buying an additional 290 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in Atlas Financial Holdings by 5.3% in the first quarter. Wedbush Securities Inc. now owns 15,815 shares of the insurance provider’s stock worth $216,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 79.41% of the company’s stock.
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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