Wall Street Zen Upgrades Investors Title (NASDAQ:ITIC) to "Buy"

Key Points

• Wall Street Zen upgraded Investors Title (NASDAQ: ITIC) from “hold” to “buy”, while Weiss Ratings also nudged the stock higher from “buy (b-)” to “buy (b)”. The current average analyst rating is now Buy.
• Shares of Investors Title rose 1.3% to $276.00 on Friday, with trading volume below average. The stock has traded between $199.15 and $288.98 over the past year.
• The company recently reported $3.20 EPS on $63.49 million in revenue for the quarter, and insiders remain active with a director buying shares. Institutional ownership is also significant at 41.40%.

Investors Title (NASDAQ:ITIC - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Separately, Weiss Ratings upgraded Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

Investors Title Stock Up 1.3%

NASDAQ:ITIC traded up $3.63 during trading hours on Friday, reaching $276.00. 33,127 shares of the company's stock were exchanged, compared to its average volume of 61,023. Investors Title has a 1-year low of $199.15 and a 1-year high of $288.98. The firm has a market capitalization of $521.64 million, a price-to-earnings ratio of 13.73 and a beta of 0.63. The company has a 50-day moving average of $251.64 and a 200 day moving average of $244.56.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The business had revenue of $63.49 million during the quarter.

Insider Buying and Selling at Investors Title

In other Investors Title news, Director Jr. Elton C. Parker acquired 538 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the acquisition, the director directly owned 3,750 shares of the company's stock, valued at approximately $866,250. The trade was a 16.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 25.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Investors Title

Institutional investors and hedge funds have recently made changes to their positions in the stock. Aristides Capital LLC lifted its stake in shares of Investors Title by 13.6% in the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider's stock valued at $4,119,000 after purchasing an additional 2,273 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Investors Title during the fourth quarter worth about $36,000. Invesco Ltd. increased its holdings in Investors Title by 30.7% in the fourth quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider's stock valued at $1,005,000 after buying an additional 945 shares in the last quarter. Engineers Gate Manager LP purchased a new position in Investors Title in the fourth quarter valued at about $226,000. Finally, AQR Capital Management LLC lifted its position in shares of Investors Title by 8.3% during the 4th quarter. AQR Capital Management LLC now owns 1,838 shares of the insurance provider's stock valued at $459,000 after acquiring an additional 141 shares during the period. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Company Profile

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.

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