Zacks Investment Research Lowers Conifer (CNFR) to Sell

Zacks Investment Research cut shares of Conifer (NASDAQ:CNFR) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “Conifer Holdings, Inc. is an insurance holding company. It offers insurance coverage in specialty commercial and specialty personal product lines. Specialty personal product lines offers non-standard homeowners insurance and dwelling fire insurance products to individuals. Specialty commercial lines offer coverage for both commercial property and commercial liability. The company serves restaurants, bars, taverns, bowling centers as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians and other independent contractors, security service providers. Conifer Holdings, Inc. is headquartered in Birmingham, Michigan. “

Separately, Boenning Scattergood reissued a hold rating on shares of Conifer in a research report on Thursday, November 9th.

Conifer (CNFR) opened at $6.05 on Tuesday. Conifer has a 52-week low of $5.30 and a 52-week high of $8.20. The company has a market cap of $49.41, a P/E ratio of -1.77 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.54 and a quick ratio of 0.54.

In related news, EVP Nicholas J. Petcoff bought 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 10th. The shares were acquired at an average price of $6.25 per share, with a total value of $100,000.00. Following the completion of the transaction, the executive vice president now owns 114,759 shares of the company’s stock, valued at approximately $717,243.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Mccammon sold 97,319 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $5.78, for a total transaction of $562,503.82. Following the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $52,020. The disclosure for this sale can be found here. Insiders have sold 153,000 shares of company stock worth $900,349 in the last ninety days. 45.50% of the stock is currently owned by insiders.

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Conifer Company Profile

Conifer Holdings, Inc is an insurance holding company. Through its insurance company subsidiaries, the Company offers insurance coverage in both specialty commercial and specialty personal product lines. It operates through two segments: commercial lines and personal lines. It is engaged in underwriting and marketing insurance coverage, and administering claims processing for such policies.

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