Atlas Financial Holdings, Inc. (NASDAQ:AFH) issued its quarterly earnings data on Monday. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.42 by $0.30, Morningstar.com reports. The company had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $58.50 million. Atlas Financial Holdings had a net margin of 1.46% and a negative return on equity of 4.19%.
Atlas Financial Holdings (NASDAQ AFH) traded up 8.09% during trading on Tuesday, reaching $16.70. 54,386 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $14.88 and its 200-day moving average is $14.59. The company has a market cap of $200.90 million, a P/E ratio of 84.34 and a beta of 0.88. Atlas Financial Holdings has a 12-month low of $12.15 and a 12-month high of $18.40.
Several brokerages recently commented on AFH. JMP Securities began coverage on shares of Atlas Financial Holdings in a research note on Wednesday, May 24th. They set an “outperform” rating and a $18.00 price objective for the company. Boenning Scattergood reissued a “buy” rating on shares of Atlas Financial Holdings in a research note on Tuesday. ValuEngine cut shares of Atlas Financial Holdings from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Finally, Sandler O’Neill raised shares of Atlas Financial Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.50.
In other Atlas Financial Holdings news, insider Kingsway America Inc sold 28,191 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $15.10, for a total transaction of $425,684.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Walter Frederick Walker acquired 5,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were bought at an average cost of $14.08 per share, with a total value of $70,400.00. The disclosure for this purchase can be found here. Company insiders own 12.70% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of 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 during the period. Wedbush Securities Inc. raised its stake in shares of 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 during the period. GMT Capital Corp bought a new stake in shares of Atlas Financial Holdings during the first quarter worth about $355,000. Oxford Asset Management raised its stake in shares of Atlas Financial Holdings by 24.3% in the first quarter. Oxford Asset Management now owns 26,383 shares of the insurance provider’s stock worth $360,000 after buying an additional 5,153 shares during the period. Finally, Prudential Financial Inc. raised its stake in shares of Atlas Financial Holdings by 48.4% in the first quarter. Prudential Financial Inc. now owns 35,835 shares of the insurance provider’s stock worth $489,000 after buying an additional 11,683 shares during the period. 80.27% of the stock is owned by institutional investors and hedge funds.
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Atlas Financial Holdings 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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