Wall Street Zen Downgrades American Coastal Insurance (NASDAQ:ACIC) to Hold

Key Points

• Wall Street Zen downgraded American Coastal Insurance (NASDAQ:ACIC) from Buy to Hold in a research note issued Saturday.
• The company recently reported Q1 earnings of $0.39 per share, missing the $0.44 consensus, while revenue of $71.22 million also came in below expectations.
• ACIC opened at $10.53 on Friday, below its 50-day and 200-day moving averages, and institutional investors now own about 22.11% of the stock.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

A number of other brokerages have also recently issued reports on ACIC. Weiss Ratings upgraded shares of American Coastal Insurance from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. Oppenheimer started coverage on shares of American Coastal Insurance in a report on Monday, January 12th. They set a "market perform" rating for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".

American Coastal Insurance Price Performance

ACIC opened at $10.53 on Friday. The company has a market cap of $512.39 million, a price-to-earnings ratio of 5.01, a price-to-earnings-growth ratio of 2.57 and a beta of -0.46. The firm has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $11.64. American Coastal Insurance has a fifty-two week low of $9.80 and a fifty-two week high of $13.06.

American Coastal Insurance (NASDAQ:ACIC - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.05). The business had revenue of $71.22 million for the quarter, compared to the consensus estimate of $75.78 million. American Coastal Insurance had a return on equity of 32.26% and a net margin of 31.32%. As a group, analysts expect that American Coastal Insurance will post 1.4 EPS for the current year.

Institutional Trading of American Coastal Insurance

A number of institutional investors have recently made changes to their positions in ACIC. Empowered Funds LLC lifted its position in shares of American Coastal Insurance by 216.9% in the fourth quarter. Empowered Funds LLC now owns 269,899 shares of the company's stock worth $3,206,000 after purchasing an additional 184,720 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of American Coastal Insurance by 353.2% in the second quarter. Raymond James Financial Inc. now owns 229,123 shares of the company's stock worth $2,548,000 after purchasing an additional 178,562 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in shares of American Coastal Insurance by 21.4% in the third quarter. Punch & Associates Investment Management Inc. now owns 723,900 shares of the company's stock worth $8,245,000 after purchasing an additional 127,571 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of American Coastal Insurance by 19.6% in the first quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company's stock worth $8,439,000 after purchasing an additional 122,778 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of American Coastal Insurance in the second quarter worth $1,268,000. Institutional investors own 22.11% of the company's stock.

About American Coastal Insurance

American Coastal Insurance Company NASDAQ: ACIC is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.

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