FedNat (NASDAQ:FNHC) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of FedNat (NASDAQ:FNHC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “FedNat Holding Company operates as a holding company. It provides insurance underwriting, distribution, claims processing and premium financing services through its subsidiaries. The company underwrites non-standard and standard personal automobile insurance and mobile home property and casualty insurance. FedNat Holding Company, formerly known as Federated National Holding Company, is based in Florida, United States. “

NASDAQ:FNHC opened at $1.40 on Tuesday. FedNat has a 1-year low of $1.33 and a 1-year high of $8.80. The business’s 50-day moving average price is $1.63 and its two-hundred day moving average price is $2.37. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.69 and a quick ratio of 0.69.

FedNat (NASDAQ:FNHC) last posted its quarterly earnings data on Sunday, November 7th. The insurance provider reported ($1.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($1.06). The firm had revenue of $65.45 million for the quarter, compared to the consensus estimate of $84.91 million. FedNat had a negative return on equity of 103.41% and a negative net margin of 48.34%. During the same quarter in the previous year, the business posted ($1.57) earnings per share. Analysts predict that FedNat will post -6.74 earnings per share for the current year.

Several large investors have recently bought and sold shares of the stock. Moors & Cabot Inc. bought a new position in shares of FedNat during the third quarter worth about $25,000. Susquehanna Fundamental Investments LLC acquired a new position in FedNat during the second quarter valued at approximately $42,000. XTX Topco Ltd acquired a new position in FedNat during the second quarter valued at approximately $45,000. Great Lakes Advisors LLC acquired a new position in FedNat during the second quarter valued at approximately $47,000. Finally, Deutsche Bank AG boosted its position in FedNat by 329.6% during the second quarter. Deutsche Bank AG now owns 35,230 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 27,030 shares during the last quarter. Institutional investors and hedge funds own 40.95% of the company’s stock.

FedNat Company Profile

FedNat Holding Co engages in providing the insurance services. It offers underwriting services to homeowners, personal automobile, commercial general liability, federal flood, and other lines of insurance. The company was founded by Edward J. Lawson and Michele V. Lawson in 1991 and is headquartered in Sunrise, FL.

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