Tidal Investments LLC Makes New $616,000 Investment in Palomar Holdings, Inc. (NASDAQ:PLMR)

Tidal Investments LLC bought a new position in Palomar Holdings, Inc. (NASDAQ:PLMR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,830 shares of the company's stock, valued at approximately $616,000.

A number of other hedge funds also recently bought and sold shares of the business. Barclays PLC lifted its holdings in Palomar by 112.6% in the 3rd quarter. Barclays PLC now owns 71,803 shares of the company's stock worth $6,798,000 after buying an additional 38,027 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Palomar during the fourth quarter valued at approximately $206,000. Exchange Traded Concepts LLC lifted its stake in Palomar by 2.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 7,919 shares of the company's stock worth $836,000 after acquiring an additional 200 shares during the period. KBC Group NV boosted its holdings in Palomar by 44.9% in the fourth quarter. KBC Group NV now owns 1,045 shares of the company's stock valued at $110,000 after acquiring an additional 324 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in Palomar by 130.4% in the fourth quarter. Moody Aldrich Partners LLC now owns 62,322 shares of the company's stock valued at $6,581,000 after acquiring an additional 35,270 shares in the last quarter. Hedge funds and other institutional investors own 90.25% of the company's stock.

Insider Buying and Selling at Palomar

In other news, CEO Mac Armstrong sold 5,000 shares of Palomar stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $129.72, for a total value of $648,600.00. Following the completion of the transaction, the chief executive officer now owns 402,388 shares of the company's stock, valued at $52,197,771.36. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO T Christopher Uchida sold 500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $159.77, for a total transaction of $79,885.00. Following the sale, the chief financial officer now directly owns 7,920 shares in the company, valued at $1,265,378.40. This trade represents a 5.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,202 shares of company stock worth $3,265,129. 3.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Evercore ISI upped their price objective on shares of Palomar from $163.00 to $168.00 and gave the stock an "in-line" rating in a report on Friday. Jefferies Financial Group raised their price objective on shares of Palomar from $145.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. raised Palomar from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $115.00 to $150.00 in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their target price on Palomar from $155.00 to $145.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Truist Financial raised their target price on Palomar from $150.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.33.

Palomar Price Performance

NASDAQ:PLMR traded up $7.60 during mid-day trading on Friday, hitting $171.53. 520,448 shares of the company's stock were exchanged, compared to its average volume of 201,750. The company has a market cap of $4.59 billion, a PE ratio of 38.29 and a beta of 0.51. Palomar Holdings, Inc. has a one year low of $77.28 and a one year high of $172.60. The business has a fifty day moving average price of $149.48 and a 200 day moving average price of $125.53.

Palomar (NASDAQ:PLMR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.26. The firm had revenue of $174.63 million for the quarter, compared to analysts' expectations of $161.97 million. Palomar had a return on equity of 19.76% and a net margin of 21.23%. During the same period in the previous year, the firm posted $1.09 EPS. On average, equities analysts forecast that Palomar Holdings, Inc. will post 5.99 EPS for the current fiscal year.

Palomar Profile

Palomar Holdings, Inc, a specialty insurance company, provides property and casualty insurance to residential and businesses in the United States. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, fronting, commercial all risk, specialty homeowners, inland marine, Hawaii hurricane, and residential flood, as well as other products, such as assumed reinsurance.