Insider Buying: American Coastal Insurance Corporation (NASDAQ:ACIC) Director Acquires 1,000 Shares of Stock

American Coastal Insurance Corporation (NASDAQ:ACIC - Get Free Report) Director Kern Michael Davis purchased 1,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was acquired at an average price of $10.45 per share, with a total value of $10,450.00. Following the completion of the purchase, the director now directly owns 299,564 shares in the company, valued at $3,130,443.80. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

American Coastal Insurance Stock Up 1.2%

ACIC stock traded up $0.13 during midday trading on Friday, reaching $10.69. The company's stock had a trading volume of 416,168 shares, compared to its average volume of 200,728. American Coastal Insurance Corporation has a 1 year low of $8.82 and a 1 year high of $15.08. The firm has a market cap of $516.86 million, a price-to-earnings ratio of 7.17 and a beta of -0.28.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded American Coastal Insurance from a "buy" rating to a "hold" rating in a research report on Friday, May 23rd.

Institutional Trading of American Coastal Insurance

A hedge fund recently raised its stake in American Coastal Insurance stock. Militia Capital Partners LP increased its position in shares of American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) by 101.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,658 shares of the company's stock after buying an additional 45,658 shares during the period. American Coastal Insurance comprises approximately 0.8% of Militia Capital Partners LP's holdings, making the stock its 26th largest holding. Militia Capital Partners LP owned about 0.19% of American Coastal Insurance worth $1,049,000 at the end of the most recent quarter. 22.11% of the stock is owned by institutional investors.

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.

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