Conifer Holdings Inc (NASDAQ:CNFR) shares shot up 6.5% on Tuesday . The stock traded as high as $4.00 and last traded at $3.75, 182,579 shares changed hands during mid-day trading. An increase of 2,125% from the average session volume of 8,205 shares. The stock had previously closed at $3.52.
Several brokerages have weighed in on CNFR. ValuEngine upgraded shares of Conifer from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Conifer from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, Boenning Scattergood restated a “neutral” rating on shares of Conifer in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Conifer presently has a consensus rating of “Hold” and a consensus price target of $6.50.
The stock has a market cap of $34.99 million, a P/E ratio of -9.05 and a beta of 1.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.50 and a quick ratio of 0.50. The stock’s 50 day moving average is $3.71.
Conifer (NASDAQ:CNFR) last announced its earnings results on Wednesday, August 7th. The insurance provider reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.50). The firm had revenue of $22.78 million during the quarter, compared to analyst estimates of $23.16 million. Conifer had a negative net margin of 12.40% and a negative return on equity of 34.09%. Equities analysts predict that Conifer Holdings Inc will post -0.76 EPS for the current fiscal year.
In related news, Director John William Melstrom purchased 25,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $4.25 per share, with a total value of $106,250.00. Following the completion of the acquisition, the director now owns 25,000 shares in the company, valued at approximately $106,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Brian J. Roney purchased 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was bought at an average cost of $3.39 per share, with a total value of $33,900.00. Following the acquisition, the president now owns 331,919 shares of the company’s stock, valued at approximately $1,125,205.41. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 37,000 shares of company stock valued at $146,990. 47.50% of the stock is owned by insiders.
Conifer Company Profile (NASDAQ:CNFR)
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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