Conifer (CNFR) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of Conifer (NASDAQ:CNFR) from a hold rating to a sell rating in a research report report published on Friday.

Several other research firms have also recently issued reports on CNFR. Zacks Investment Research upgraded shares of Conifer from a sell rating to a hold rating in a research report on Friday, September 7th. Raymond James cut shares of Conifer from an outperform rating to a market perform rating in a research report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $6.42.

NASDAQ CNFR opened at $5.63 on Friday. Conifer has a 12 month low of $5.00 and a 12 month high of $7.20. The company has a market cap of $47.29 million, a price-to-earnings ratio of -1.94 and a beta of 0.79. 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 released its earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). Conifer had a negative return on equity of 33.42% and a negative net margin of 20.48%. The firm had revenue of $25.27 million for the quarter, compared to the consensus estimate of $23.33 million. As a group, analysts expect that Conifer will post 0.28 earnings per share for the current year.

In related news, President Brian J. Roney acquired 10,000 shares of Conifer stock in a transaction dated Tuesday, September 11th. The shares were purchased at an average price of $6.07 per share, for a total transaction of $60,700.00. Following the completion of the transaction, the president now directly owns 313,602 shares in the company, valued at approximately $1,903,564.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 52.50% of the company’s stock.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC grew its stake in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 457,842 shares of the insurance provider’s stock after buying an additional 11,569 shares during the period. Northpointe Capital LLC owned 5.37% of Conifer worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 25.61% of the company’s stock.

About Conifer

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.

Further Reading: Earnings Per Share

To view ValuEngine’s full report, visit ValuEngine’s official website.

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