American Coastal Insurance (NASDAQ:ACIC) Insider Sells $192,035.76 in Stock

Key Points

• Insider sale: Brooke Adler sold 21,196 American Coastal Insurance shares at an average price of $9.06, generating $192,035.76 and reducing the insider’s holdings by 17.46% to 100,175 shares.
• Stock and earnings: ACIC shares rose 3.6% to $9.40, but the company’s latest quarterly earnings of $0.33 per share fell short of the $0.42 consensus estimate. Analysts expect full-year earnings of $0.96 per share.
• Analyst view: The stock has a consensus “Hold” rating from analysts, with a $13.00 average price target; institutional investors and hedge funds own 22.11% of the company.

American Coastal Insurance Corporation (NASDAQ:ACIC - Get Free Report) insider Brooke Adler sold 21,196 shares of the stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $9.06, for a total value of $192,035.76. Following the transaction, the insider directly owned 100,175 shares in the company, valued at $907,585.50. The trade was a 17.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

American Coastal Insurance Stock Up 3.6%

NASDAQ:ACIC traded up $0.33 during mid-day trading on Friday, reaching $9.40. The company's stock had a trading volume of 405,347 shares, compared to its average volume of 260,394. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $444.34 million, a PE ratio of 4.68 and a beta of -0.46. The stock has a fifty day moving average of $9.76 and a 200-day moving average of $10.61. American Coastal Insurance Corporation has a 1 year low of $9.03 and a 1 year high of $13.06.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.09). American Coastal Insurance had a return on equity of 27.95% and a net margin of 30.31%.The business had revenue of $82.60 million during the quarter. Equities research analysts forecast that American Coastal Insurance Corporation will post 0.96 earnings per share for the current year.

Institutional Trading of American Coastal Insurance

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in American Coastal Insurance during the second quarter worth about $25,309,000. Empyrean Capital Partners LP raised its position in shares of American Coastal Insurance by 19.8% in the first quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company's stock worth $12,679,000 after acquiring an additional 186,487 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of American Coastal Insurance by 19.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company's stock valued at $8,439,000 after purchasing an additional 122,778 shares in the last quarter. Range Financial Group LLC purchased a new position in American Coastal Insurance during the first quarter worth approximately $1,051,000. Finally, Militia Capital Management LLC purchased a new stake in shares of American Coastal Insurance in the first quarter valued at approximately $2,257,000. 22.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $13.00 target price on shares of American Coastal Insurance in a research note on Tuesday, August 11th. Weiss Ratings cut American Coastal Insurance from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised American Coastal Insurance from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, American Coastal Insurance currently has a consensus rating of "Hold" and a consensus target price of $13.00.

American Coastal Insurance Company Profile

American Coastal Insurance Corporation NASDAQ: ACIC is a specialty property and casualty insurance holding company focused primarily on the commercial residential market. Through its insurance operations, the company provides coverage designed for properties such as condominium associations, apartment communities and other residential developments.

The company's offerings generally center on commercial property insurance, including protection against damage from severe weather and other covered risks.

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