Atlas Financial (AFH) Downgraded by ValuEngine

Atlas Financial (NASDAQ:AFH) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday.

A number of other equities analysts have also weighed in on AFH. Zacks Investment Research upgraded Atlas Financial from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Boenning Scattergood reissued a “buy” rating on shares of Atlas Financial in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Atlas Financial currently has an average rating of “Hold” and a consensus price target of $15.33.

Shares of NASDAQ:AFH traded down $0.26 during midday trading on Thursday, reaching $9.00. The company had a trading volume of 14,000 shares, compared to its average volume of 75,769. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.24. Atlas Financial has a 1-year low of $8.05 and a 1-year high of $21.50. The firm has a market capitalization of $110.54 million, a price-to-earnings ratio of -2.49 and a beta of 1.03.

Atlas Financial (NASDAQ:AFH) last released its quarterly earnings results on Monday, November 5th. The insurance provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.19. Atlas Financial had a negative return on equity of 48.83% and a negative net margin of 16.44%. The business had revenue of $55.77 million during the quarter, compared to analyst estimates of $52.00 million. Equities analysts predict that Atlas Financial will post 1.75 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in AFH. LMR Partners LLP purchased a new stake in Atlas Financial in the 2nd quarter worth about $280,000. Paloma Partners Management Co purchased a new stake in Atlas Financial in the 2nd quarter worth about $448,000. Prescott Group Capital Management L.L.C. purchased a new stake in Atlas Financial in the 3rd quarter worth about $819,000. Clear Harbor Asset Management LLC purchased a new stake in Atlas Financial in the 2nd quarter worth about $914,000. Finally, New Vernon Investment Management LLC purchased a new stake in shares of Atlas Financial during the 3rd quarter worth about $1,155,000. 75.13% of the stock is owned by hedge funds and other institutional investors.

Atlas Financial Company Profile

Atlas Financial Holdings, Inc, through its subsidiaries, engages in underwriting commercial automobile insurance policies in the United States. Its automobile insurance products provide insurance coverage in three primary areas, including liability, accident benefits, and physical damage. The company focuses on the light commercial automobile sector, including taxi cabs, non-emergency para-transit, limousine, livery, and business autos.

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