American Coastal Insurance (NASDAQ:ACIC) Reaches New 1-Year Low – Time to Sell?

Shares of American Coastal Insurance Corporation (NASDAQ:ACIC) reached a new 52-week low on Thursday . The stock traded as low as $9.80 and last traded at $10.44, with a volume of 857081 shares traded. The stock had previously closed at $11.87.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ACIC shares. Wall Street Zen cut shares of American Coastal Insurance from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer started coverage on shares of American Coastal Insurance in a research report on Monday, January 12th. They issued a “market perform” rating for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

American Coastal Insurance Stock Performance

The firm’s 50-day moving average is $11.47 and its two-hundred day moving average is $11.64. The stock has a market cap of $512.39 million, a P/E ratio of 5.01, a PEG ratio of 2.57 and a beta of -0.46.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $71.22 million during 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, research analysts forecast that American Coastal Insurance Corporation will post 1.4 EPS for the current year.

Institutional Trading of American Coastal Insurance

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allegheny Financial Group raised its position in shares of American Coastal Insurance by 6.3% during the 4th quarter. Allegheny Financial Group now owns 19,166 shares of the company’s stock valued at $242,000 after acquiring an additional 1,137 shares during the last quarter. Osaic Holdings Inc. raised its position in shares of American Coastal Insurance by 7.2% during the 4th quarter. Osaic Holdings Inc. now owns 17,917 shares of the company’s stock valued at $226,000 after acquiring an additional 1,202 shares during the last quarter. Martingale Asset Management L P raised its position in shares of American Coastal Insurance by 3.1% during the 4th quarter. Martingale Asset Management L P now owns 48,921 shares of the company’s stock valued at $618,000 after acquiring an additional 1,490 shares during the last quarter. Invesco Ltd. raised its position in shares of American Coastal Insurance by 9.7% during the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock valued at $219,000 after acquiring an additional 1,736 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of American Coastal Insurance by 2.5% during the 4th quarter. First Trust Advisors LP now owns 78,625 shares of the company’s stock valued at $993,000 after acquiring an additional 1,906 shares during the last quarter. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Company Profile

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.