American Coastal Insurance Corporation (NASDAQ:ACIC) Director Kern Michael Davis Purchases 1,000 Shares

American Coastal Insurance Corporation (NASDAQ:ACIC - Get Free Report) Director Kern Michael Davis acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were bought at an average cost of $10.45 per share, for a total transaction of $10,450.00. Following the acquisition, the director directly owned 299,564 shares in the company, valued at $3,130,443.80. This represents a 0.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

American Coastal Insurance Stock Performance

ACIC traded up $0.43 during midday trading on Monday, reaching $11.12. The company's stock had a trading volume of 241,486 shares, compared to its average volume of 315,075. The stock has a market cap of $537.65 million, a PE ratio of 7.46 and a beta of -0.28. American Coastal Insurance Corporation has a 1 year low of $8.82 and a 1 year high of $15.08.

Institutional Trading of American Coastal Insurance

A hedge fund recently bought a new stake in American Coastal Insurance stock. Strs Ohio purchased a new stake in shares of American Coastal Insurance Corporation (NASDAQ:ACIC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 41,900 shares of the company's stock, valued at approximately $485,000. Strs Ohio owned about 0.09% of American Coastal Insurance at the end of the most recent quarter. 22.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.