Conifer (CNFR) Rating Increased to Hold at ValuEngine

Conifer (NASDAQ:CNFR) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also recently commented on CNFR. Raymond James cut Conifer from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Zacks Investment Research lowered Conifer from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.42.

NASDAQ CNFR opened at $5.73 on Friday. The company has a market capitalization of $46.01 million, a price-to-earnings ratio of -1.98 and a beta of 1.07. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58. Conifer has a 52 week low of $5.00 and a 52 week high of $7.20.

Conifer (NASDAQ:CNFR) last released its earnings results on Wednesday, August 8th. The insurance provider reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.06). The firm had revenue of $25.27 million during the quarter, compared to the consensus estimate of $23.33 million. Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. As a group, equities analysts expect that Conifer will post 0.43 EPS for the current year.

In related news, President Brian J. Roney purchased 10,000 shares of the stock in a transaction on Tuesday, September 11th. The shares were purchased at an average price of $6.07 per share, with a total value of $60,700.00. Following the transaction, the president now directly owns 313,602 shares of the company’s stock, valued at $1,903,564.14. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 52.50% of the stock is owned by insiders.

A hedge fund recently raised its stake in Conifer stock. Northpointe Capital LLC grew its stake in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 457,842 shares of the insurance provider’s stock after purchasing an additional 11,569 shares during the quarter. Northpointe Capital LLC owned about 5.37% of Conifer worth $2,884,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 26.20% of the company’s stock.

About Conifer

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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