Atlas Financial Holdings, Inc. (AFH) Releases Earnings Results, Beats Estimates By $0.30 EPS

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.

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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.

Earnings History for Atlas Financial Holdings (NASDAQ:AFH)

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