Conifer (NASDAQ:CNFR)‘s stock had its “neutral” rating reissued by Boenning Scattergood in a research report issued to clients and investors on Thursday, The Fly reports.
The analysts wrote, “We also increased our expectations for adverse prior year reserve development in both years.””
Separately, Zacks Investment Research downgraded Conifer from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $6.50.
Shares of CNFR opened at $4.24 on Thursday. Conifer has a 52-week low of $3.06 and a 52-week high of $7.20. The firm has a market capitalization of $35.40 million, a P/E ratio of -9.65 and a beta of 1.52. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.81.
Conifer (NASDAQ:CNFR) last released its earnings results on Wednesday, May 8th. The insurance provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.47). Conifer had a negative return on equity of 21.47% and a negative net margin of 10.28%. The business had revenue of $24.30 million for the quarter, compared to the consensus estimate of $24.01 million. On average, sell-side analysts anticipate that Conifer will post 0.13 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Conifer stock. Quantum Capital Management increased its position in Conifer Holdings Inc (NASDAQ:CNFR) by 60.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,697 shares of the insurance provider’s stock after acquiring an additional 7,030 shares during the quarter. Quantum Capital Management owned about 0.22% of Conifer worth $65,000 at the end of the most recent quarter. Institutional investors own 19.22% of the company’s stock.
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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