Atlas Financial (AFH) Raised to Strong-Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Atlas Financial (NASDAQ:AFH) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning. They currently have $22.00 target price on the insurance provider’s stock.
According to Zacks, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States. “
AFH has been the subject of a number of other reports. Boenning Scattergood reiterated a buy rating on shares of Atlas Financial in a research note on Tuesday, November 7th. ValuEngine upgraded shares of Atlas Financial from a hold rating to a buy rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $19.67.
Shares of Atlas Financial (NASDAQ AFH) opened at $19.85 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a market cap of $229.18, a P/E ratio of 141.80 and a beta of 0.88. Atlas Financial has a one year low of $12.15 and a one year high of $20.80.
In other news, CEO Scott D. Wollney sold 4,852 shares of Atlas Financial stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $18.75, for a total value of $90,975.00. Following the transaction, the chief executive officer now owns 340,524 shares of the company’s stock, valued at $6,384,825. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Paul Anthony Romano, Jr. sold 2,991 shares of Atlas Financial stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $18.75, for a total transaction of $56,081.25. Following the completion of the transaction, the vice president now directly owns 77,655 shares in the company, valued at approximately $1,456,031.25. The disclosure for this sale can be found here. In the last three months, insiders sold 179,029 shares of company stock worth $3,549,810. Insiders own 13.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. OxFORD Asset Management LLP increased its position in Atlas Financial by 48.2% during the third quarter. OxFORD Asset Management LLP now owns 28,270 shares of the insurance provider’s stock worth $537,000 after acquiring an additional 9,200 shares during the period. Dimensional Fund Advisors LP increased its position in Atlas Financial by 12.2% during the third quarter. Dimensional Fund Advisors LP now owns 300,806 shares of the insurance provider’s stock worth $5,685,000 after acquiring an additional 32,663 shares during the period. Wells Fargo & Company MN increased its position in Atlas Financial by 8.6% during the third quarter. Wells Fargo & Company MN now owns 41,100 shares of the insurance provider’s stock worth $693,000 after acquiring an additional 3,271 shares during the period. GMT Capital Corp bought a new position in Atlas Financial during the third quarter worth $902,000. Finally, Wasatch Advisors Inc. increased its holdings in Atlas Financial by 13.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 780,955 shares of the insurance provider’s stock valued at $14,760,000 after buying an additional 90,246 shares during the period. 79.73% of the stock is currently owned by institutional investors and hedge funds.
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Atlas Financial Company Profile
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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