Conifer (NASDAQ:CNFR) Lowered to Hold at ValuEngine

ValuEngine cut shares of Conifer (NASDAQ:CNFR) from a buy rating to a hold rating in a research note published on Wednesday morning, ValuEngine reports.

Separately, Zacks Investment Research lowered shares of Conifer from a buy rating to a hold rating in a research note on Monday, November 25th.

Shares of NASDAQ:CNFR opened at $3.86 on Wednesday. The business’s 50 day moving average is $3.79 and its 200 day moving average is $3.74. Conifer has a 12-month low of $3.06 and a 12-month high of $5.10. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.74.

Conifer (NASDAQ:CNFR) last released its quarterly earnings results on Monday, November 11th. The insurance provider reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.05). Conifer had a negative net margin of 10.07% and a negative return on equity of 35.86%. The company had revenue of $23.87 million during the quarter, compared to analysts’ expectations of $23.05 million. Analysts forecast that Conifer will post -1.45 EPS for the current fiscal year.

In other Conifer news, CEO James G. Petcoff purchased 222,222 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average cost of $4.50 per share, for a total transaction of $999,999.00. Following the completion of the acquisition, the chief executive officer now owns 2,628,885 shares of the company’s stock, valued at approximately $11,829,982.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nicholas J. Petcoff purchased 55,555 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were acquired at an average price of $4.50 per share, for a total transaction of $249,997.50. Following the completion of the acquisition, the executive vice president now directly owns 170,314 shares of the company’s stock, valued at approximately $766,413. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 895,897 shares of company stock worth $4,031,537. 47.50% of the stock is owned by corporate insiders.

Conifer Company Profile

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.

Read More: What is the return on assets (ROA) ratio?

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

Receive News & Ratings for Conifer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conifer and related companies with MarketBeat.com's FREE daily email newsletter.