Conifer Holdings Inc (NASDAQ:CNFR) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 6,600 shares, a growth of 175.0% from the July 31st total of 2,400 shares. Based on an average daily volume of 8,200 shares, the short-interest ratio is presently 0.8 days. Currently, 0.2% of the company’s shares are sold short.
Shares of CNFR stock remained flat at $$3.50 during trading hours on Wednesday. 2 shares of the stock traded hands, compared to its average volume of 10,879. The business’s fifty day moving average is $3.62 and its two-hundred day moving average is $4.05. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.75. Conifer has a 52-week low of $3.06 and a 52-week high of $6.30. The firm has a market capitalization of $33.28 million, a PE ratio of -7.95 and a beta of 1.43.
Conifer (NASDAQ:CNFR) last posted its earnings results on Wednesday, August 7th. The insurance provider reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.50). The company had revenue of $22.78 million during the quarter, compared to analyst estimates of $23.16 million. Conifer had a negative net margin of 12.40% and a negative return on equity of 34.09%. Equities research analysts expect that Conifer will post -1.35 earnings per share for the current year.
In other Conifer news, Director John William Melstrom purchased 25,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $4.25 per share, with a total value of $106,250.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $106,250. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Clarkston Ventures, Llc purchased 193,269 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $3.75 per share, for a total transaction of $724,758.75. Following the purchase, the insider now owns 1,770,766 shares in the company, valued at $6,640,372.50. The disclosure for this purchase can be found here. Insiders have acquired 311,502 shares of company stock worth $1,180,633 over the last ninety days. 47.50% of the stock is owned by insiders.
A number of analysts recently issued reports on CNFR shares. Zacks Investment Research raised Conifer from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Boenning Scattergood reaffirmed a “neutral” rating on shares of Conifer in a research report on Thursday, May 16th. Finally, ValuEngine raised shares of Conifer from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.
Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.
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