Federated National Holding Co (NASDAQ:FNHC) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 114,600 shares, an increase of 29.6% from the May 30th total of 88,400 shares. Approximately 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 42,200 shares, the days-to-cover ratio is currently 2.7 days.
FNHC stock traded down $0.24 during mid-day trading on Friday, reaching $13.09. The company had a trading volume of 67,346 shares, compared to its average volume of 36,196. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.63 and a quick ratio of 0.63. The stock’s 50 day moving average is $13.99. The company has a market capitalization of $171.11 million, a P/E ratio of 9.35 and a beta of 0.83. Federated National has a 52 week low of $12.67 and a 52 week high of $26.76.
Federated National (NASDAQ:FNHC) last posted its quarterly earnings results on Tuesday, May 7th. The insurance provider reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. The firm had revenue of $96.51 million during the quarter, compared to the consensus estimate of $96.53 million. Federated National had a return on equity of 4.07% and a net margin of 0.89%. As a group, equities analysts expect that Federated National will post 1.5 EPS for the current fiscal year.
FNHC has been the subject of a number of research reports. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Zacks Investment Research downgraded GenMark Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Federated National has an average rating of “Hold” and a consensus price target of $24.50.
A number of hedge funds have recently bought and sold shares of FNHC. Mackay Shields LLC boosted its stake in shares of Federated National by 110.8% during the 4th quarter. Mackay Shields LLC now owns 33,518 shares of the insurance provider’s stock worth $667,000 after acquiring an additional 17,618 shares during the period. Systematic Financial Management LP bought a new position in shares of Federated National during the 1st quarter worth approximately $395,000. Rhumbline Advisers boosted its stake in shares of Federated National by 44.6% during the 4th quarter. Rhumbline Advisers now owns 15,412 shares of the insurance provider’s stock worth $307,000 after acquiring an additional 4,753 shares during the period. Boston Partners boosted its stake in shares of Federated National by 7.0% during the 1st quarter. Boston Partners now owns 112,100 shares of the insurance provider’s stock worth $1,798,000 after acquiring an additional 7,297 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Federated National by 0.8% during the 4th quarter. BlackRock Inc. now owns 897,350 shares of the insurance provider’s stock worth $17,876,000 after acquiring an additional 7,503 shares during the period. Hedge funds and other institutional investors own 64.30% of the company’s stock.
Federated National Company Profile
FedNat Holding Company, through its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in the United States. The company is involved in the homeowners, and fire property and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.
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