Atlas Financial Holdings, Inc. (AFH) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Atlas Financial Holdings, Inc. (NASDAQ:AFH) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States. “

A number of other analysts have also recently issued reports on AFH. TheStreet raised Atlas Financial Holdings from a c rating to a b- rating in a research note on Friday, August 18th. Boenning Scattergood reissued a buy rating on shares of Atlas Financial Holdings in a research note on Tuesday, August 8th. Finally, ValuEngine raised Atlas Financial Holdings from a sell rating to a hold rating in a research note on Friday, September 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Atlas Financial Holdings currently has a consensus rating of Buy and a consensus price target of $18.67.

Atlas Financial Holdings (NASDAQ:AFH) traded up $0.10 during midday trading on Tuesday, reaching $18.85. The company had a trading volume of 9,872 shares, compared to its average volume of 46,580. Atlas Financial Holdings has a twelve month low of $12.15 and a twelve month high of $20.60. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59.

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In related news, Director Bruce Wayne Giles sold 4,840 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $19.12, for a total value of $92,540.80. Following the completion of the transaction, the director now directly owns 79,018 shares of the company’s stock, valued at $1,510,824.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kingsway America Inc sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $16.20, for a total transaction of $324,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 176,040 shares of company stock valued at $3,165,675 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Wasatch Advisors Inc. grew its stake in shares of Atlas Financial Holdings by 13.1% in the third quarter. Wasatch Advisors Inc. now owns 780,955 shares of the insurance provider’s stock valued at $14,760,000 after buying an additional 90,246 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Atlas Financial Holdings by 11.0% in the second quarter. Vanguard Group Inc. now owns 457,267 shares of the insurance provider’s stock valued at $6,813,000 after buying an additional 45,156 shares in the last quarter. WCM Investment Management CA grew its stake in shares of Atlas Financial Holdings by 0.8% in the second quarter. WCM Investment Management CA now owns 448,883 shares of the insurance provider’s stock valued at $6,688,000 after buying an additional 3,505 shares in the last quarter. Tieton Capital Management LLC grew its stake in shares of Atlas Financial Holdings by 8.1% in the second quarter. Tieton Capital Management LLC now owns 366,520 shares of the insurance provider’s stock valued at $5,461,000 after buying an additional 27,590 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Atlas Financial Holdings by 12.2% in the third quarter. Dimensional Fund Advisors LP now owns 300,806 shares of the insurance provider’s stock valued at $5,685,000 after buying an additional 32,663 shares in the last quarter. 78.57% of the stock is owned by institutional investors and hedge funds.

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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