Federated National Holding Co (NASDAQ:FNHC) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 114,600 shares, a growth of 29.6% from the May 30th total of 88,400 shares. Based on an average trading volume of 42,200 shares, the short-interest ratio is presently 2.7 days. Approximately 1.0% of the shares of the stock are sold short.
A number of brokerages recently weighed in on FNHC. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Zacks Investment Research lowered GenMark Diagnostics from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. Three equities research 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 presently has a consensus rating of “Hold” and an average price target of $24.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA grew its position in shares of Federated National by 1,606.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,406 shares of the insurance provider’s stock valued at $39,000 after buying an additional 2,265 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Federated National by 353.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,237 shares of the insurance provider’s stock valued at $84,000 after buying an additional 3,303 shares during the last quarter. Bank of America Corp DE grew its position in shares of Federated National by 44.5% in the 4th quarter. Bank of America Corp DE now owns 8,727 shares of the insurance provider’s stock valued at $174,000 after buying an additional 2,687 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Federated National by 6.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 10,087 shares of the insurance provider’s stock valued at $201,000 after buying an additional 628 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Federated National in the 4th quarter valued at about $238,000. Hedge funds and other institutional investors own 64.30% of the company’s stock.
Federated National (NASDAQ:FNHC) last issued its quarterly earnings data on Tuesday, May 7th. The insurance provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Federated National had a return on equity of 4.07% and a net margin of 0.89%. The business had revenue of $96.51 million for the quarter, compared to analyst estimates of $96.53 million. As a group, sell-side analysts expect that Federated National will post 1.5 EPS for the current year.
About Federated National
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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