Conifer (CNFR) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Conifer (NASDAQ:CNFR) from a hold rating to a sell rating in a research note published on Tuesday, January 9th.

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 report on Thursday, November 9th.

Conifer (NASDAQ CNFR) traded up $0.20 during trading hours on Tuesday, reaching $6.15. 203 shares of the company’s stock were exchanged, compared to its average volume of 13,663. Conifer has a 52 week low of $5.30 and a 52 week high of $8.20. The firm has a market capitalization of $54.15 and a PE ratio of -1.80. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.54 and a quick ratio of 0.54.

Conifer (NASDAQ:CNFR) last released its earnings results on Wednesday, November 8th. The insurance provider reported ($2.48) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.40) by ($0.08). Conifer had a negative return on equity of 43.07% and a negative net margin of 27.29%. equities research analysts predict that Conifer will post -2.87 earnings per share for the current year.

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

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About Conifer

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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