Conifer (CNFR) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Conifer (NASDAQ:CNFR) from a hold rating to a sell rating in a research report released 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 reaffirmed a hold rating on shares of Conifer in a research report on Wednesday, October 4th.

Shares of Conifer (NASDAQ CNFR) remained flat at $$6.00 during trading on Tuesday. 16 shares of the company’s stock were exchanged, compared to its average volume of 5,140. Conifer has a 52-week low of $5.30 and a 52-week high of $8.20. The stock has a market cap of $51.11, a price-to-earnings ratio of -1.75 and a beta of 1.13. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.55.

Conifer (NASDAQ:CNFR) last issued its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($2.48) 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 anticipate that Conifer will post -2.79 EPS for the current fiscal year.

In other Conifer news, EVP Nicholas J. Petcoff acquired 16,000 shares of Conifer stock in a transaction dated Wednesday, October 10th. The stock was acquired at an average cost of $6.25 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the executive vice president now owns 114,759 shares in the company, valued at approximately $717,243.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Mccammon sold 97,319 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $5.78, for a total value of $562,503.82. Following the transaction, the director now owns 9,000 shares of the company’s stock, valued at $52,020. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,000 shares of company stock valued at $900,349. 45.50% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Conifer stock. Northpointe Capital LLC lifted its holdings in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 69.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 534,955 shares of the insurance provider’s stock after buying an additional 218,765 shares during the period. Northpointe Capital LLC owned approximately 6.28% of Conifer worth $3,103,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 28.16% of the company’s stock.

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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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