Conifer Holdings Inc (NASDAQ:CNFR) has been given an average recommendation of “Hold” by the six research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $6.25.
A number of equities analysts have issued reports on CNFR shares. Zacks Investment Research cut Conifer from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. ValuEngine cut Conifer from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th.
In other news, President Brian J. Roney bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were bought at an average cost of $6.07 per share, for a total transaction of $60,700.00. Following the acquisition, the president now directly owns 313,602 shares in the company, valued at $1,903,564.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 52.50% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC increased its position in Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 457,842 shares of the insurance provider’s stock after purchasing an additional 11,569 shares during the period. Northpointe Capital LLC owned approximately 5.37% of Conifer worth $2,884,000 at the end of the most recent quarter. Institutional investors own 26.18% of the company’s stock.
Conifer stock opened at $5.72 on Friday. The company has a market cap of $48.82 million, a price-to-earnings ratio of -1.97 and a beta of 1.07. Conifer has a 52-week low of $5.00 and a 52-week high of $7.20. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58.
Conifer (NASDAQ:CNFR) last posted its quarterly earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The business had revenue of $25.27 million for the quarter, compared to the consensus estimate of $23.33 million. Conifer had a negative return on equity of 33.42% and a negative net margin of 20.48%. As a group, sell-side analysts forecast that Conifer will post 0.28 EPS for the current year.
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.
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