Atlas Financial Holdings, Inc. (NASDAQ:AFH) issued its earnings results on Monday, August 7th. The insurance provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.30, Morningstar.com reports. Atlas Financial Holdings had a negative return on equity of 3.32% and a net margin of 1.67%. The company had revenue of $55.70 million for the quarter, compared to analysts’ expectations of $58.50 million.
Atlas Financial Holdings (NASDAQ AFH) traded down 0.93% during midday trading on Friday, reaching $16.00. The company had a trading volume of 26,082 shares. The company has a 50-day moving average of $15.21 and a 200-day moving average of $14.55. The stock has a market capitalization of $192.48 million, a PE ratio of 64.78 and a beta of 0.88. Atlas Financial Holdings has a 12-month low of $12.15 and a 12-month high of $18.40.
COPYRIGHT VIOLATION NOTICE: This piece was originally reported by BNB Daily and is the property of of BNB Daily. If you are reading this piece on another site, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The original version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/atlas-financial-holdings-inc-afh-issues-quarterly-earnings-results-updated.html.
A number of brokerages recently issued reports on AFH. JMP Securities began coverage on Atlas Financial Holdings in a report on Wednesday, May 24th. They issued an “outperform” rating and a $18.00 target price on the stock. Boenning Scattergood began coverage on Atlas Financial Holdings in a report on Tuesday, June 13th. They issued an “outperform” rating and a $19.00 target price on the stock. ValuEngine cut Atlas Financial Holdings from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Zacks Investment Research upgraded Atlas Financial Holdings from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a report on Tuesday. Finally, Sandler O’Neill upgraded Atlas Financial Holdings from a “hold” rating to a “buy” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $18.67.
In other Atlas Financial Holdings news, insider Kingsway America Inc sold 28,191 shares of the business’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $15.10, for a total value of $425,684.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Walter Frederick Walker bought 5,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The stock was bought at an average cost of $14.08 per share, for a total transaction of $70,400.00. The disclosure for this purchase can be found here. Insiders own 12.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in Atlas Financial Holdings during the second quarter valued at approximately $151,000. Citadel Advisors LLC bought a new stake in Atlas Financial Holdings during the second quarter valued at approximately $161,000. Parametric Portfolio Associates LLC acquired a new position in shares of Atlas Financial Holdings during the second quarter worth about $165,000. Rhumbline Advisers increased its position in shares of Atlas Financial Holdings by 2.5% in the second quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock worth $175,000 after buying an additional 290 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of Atlas Financial Holdings by 5.3% in the first quarter. Wedbush Securities Inc. now owns 15,815 shares of the insurance provider’s stock worth $216,000 after buying an additional 800 shares during the last quarter. 78.35% of the stock is currently owned by institutional investors and hedge funds.
About Atlas Financial Holdings
Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.
Receive News & Ratings for Atlas Financial Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlas Financial Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.