Atlas Financial (AFH) Lowered to “Hold” at BidaskClub

BidaskClub lowered shares of Atlas Financial (NASDAQ:AFH) from a buy rating to a hold rating in a report issued on Thursday morning.

AFH has been the topic of several other reports. ValuEngine raised shares of Atlas Financial from a hold rating to a buy rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Atlas Financial from a strong-buy rating to a hold rating in a research note on Tuesday, October 10th. Boenning Scattergood restated a buy rating on shares of Atlas Financial in a research note on Tuesday, November 7th. Finally, Sandler O’Neill restated a buy rating and set a $24.00 price objective on shares of Atlas Financial in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $20.75.

Shares of Atlas Financial (NASDAQ:AFH) remained flat at $$20.55 during trading hours on Thursday. The stock had a trading volume of 20,632 shares, compared to its average volume of 33,944. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Atlas Financial has a fifty-two week low of $12.15 and a fifty-two week high of $21.45. The stock has a market capitalization of $247.24, a P/E ratio of 146.80 and a beta of 0.88.

In related news, VP Paul Anthony Romano, Jr. sold 6,384 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $20.31, for a total value of $129,659.04. Following the transaction, the vice president now owns 82,534 shares in the company, valued at approximately $1,676,265.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Raymond Shugrue sold 1,676 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $20.12, for a total transaction of $33,721.12. Following the completion of the transaction, the director now owns 81,765 shares in the company, valued at approximately $1,645,111.80. The disclosure for this sale can be found here. Insiders have sold a total of 179,029 shares of company stock worth $3,549,810 over the last 90 days. 13.30% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AFH. Goldman Sachs Group Inc. acquired a new position in Atlas Financial in the 2nd quarter valued at about $151,000. Citadel Advisors LLC acquired a new position in Atlas Financial in the 2nd quarter valued at about $161,000. Parametric Portfolio Associates LLC acquired a new position in Atlas Financial in the 2nd quarter valued at about $165,000. Rhumbline Advisers grew its stake in Atlas Financial by 2.5% in the 2nd quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock valued at $175,000 after buying an additional 290 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in Atlas Financial by 16.6% in the 2nd quarter. Teachers Advisors LLC now owns 20,463 shares of the insurance provider’s stock valued at $305,000 after buying an additional 2,914 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

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About Atlas Financial

Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.

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