American Coastal Insurance (NASDAQ:ACIC) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• American Coastal Insurance's stock received a "Hold (C+)" rating from Weiss Ratings, while Wall Street Zen upgraded it from 'hold' to a 'buy' rating.
• The company reported $0.54 earnings per share for the last quarter, exceeding analysts' estimates by $0.16.
• American Coastal Insurance's shares increased by 1.6% to $12.30, with a market capitalization of approximately $599.75 million.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by investment analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen raised American Coastal Insurance from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold".

American Coastal Insurance Trading Up 1.6%

NASDAQ ACIC traded up $0.19 during trading on Wednesday, hitting $12.30. The company's stock had a trading volume of 103,810 shares, compared to its average volume of 194,258. The company has a market capitalization of $599.75 million, a P/E ratio of 7.55 and a beta of -0.37. The firm's 50 day moving average is $10.99. American Coastal Insurance has a fifty-two week low of $8.82 and a fifty-two week high of $15.08.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.16. American Coastal Insurance had a return on equity of 30.65% and a net margin of 25.26%.

Hedge Funds Weigh In On American Coastal Insurance

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in shares of American Coastal Insurance in the 2nd quarter valued at about $741,000. State of Wyoming acquired a new stake in shares of American Coastal Insurance in the 2nd quarter valued at approximately $59,000. Tactive Advisors LLC acquired a new stake in shares of American Coastal Insurance in the 2nd quarter valued at approximately $120,000. Tower Research Capital LLC TRC increased its stake in American Coastal Insurance by 273.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company's stock valued at $52,000 after purchasing an additional 3,434 shares in the last quarter. Finally, Man Group plc purchased a new position in American Coastal Insurance in the 2nd quarter valued at approximately $217,000. Institutional investors and hedge funds own 22.11% of the company's stock.

About American Coastal Insurance

American Coastal Insurance Corporation operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.