Zacks Investment Research cut shares of Hallmark Financial Services (NASDAQ:HALL) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “HALLMARK FINANCIAL and its wholly owned subsidiaries engage in the sale of property and casualty insurance products. Their business primarily involves marketing, underwriting and premium financing of non-standard automobile insurance, as well as claims adjusting and other insurance related services. “

Several other analysts have also recently commented on HALL. TheStreet cut shares of Hallmark Financial Services from a c- rating to a d rating in a research note on Monday, July 13th. Raymond James cut shares of Hallmark Financial Services from an outperform rating to a market perform rating in a research note on Friday, April 17th. Finally, ValuEngine upgraded shares of Hallmark Financial Services from a hold rating to a buy rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $19.50.

Shares of NASDAQ HALL traded down $0.04 during midday trading on Thursday, hitting $2.84. The company had a trading volume of 172,307 shares, compared to its average volume of 277,615. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.40. Hallmark Financial Services has a twelve month low of $2.28 and a twelve month high of $20.30. The business has a 50-day simple moving average of $3.24 and a two-hundred day simple moving average of $7.31. The firm has a market capitalization of $51.52 million, a price-to-earnings ratio of -0.64 and a beta of 1.32.

Hallmark Financial Services (NASDAQ:HALL) last announced its quarterly earnings data on Monday, June 29th. The insurance provider reported ($2.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.95) by ($0.06). Hallmark Financial Services had a negative net margin of 17.04% and a negative return on equity of 6.33%. The company had revenue of $124.14 million during the quarter. On average, equities analysts forecast that Hallmark Financial Services will post -0.6 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. raised its position in Hallmark Financial Services by 47.7% during the fourth quarter. Citigroup Inc. now owns 2,655 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 857 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Hallmark Financial Services by 6.8% in the fourth quarter. Cubist Systematic Strategies LLC now owns 10,795 shares of the insurance provider’s stock valued at $190,000 after buying an additional 689 shares during the last quarter. Creative Planning acquired a new position in shares of Hallmark Financial Services in the first quarter valued at approximately $46,000. UBS Group AG raised its position in shares of Hallmark Financial Services by 75.9% in the fourth quarter. UBS Group AG now owns 17,628 shares of the insurance provider’s stock valued at $310,000 after buying an additional 7,605 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in shares of Hallmark Financial Services by 77.6% in the first quarter. WINTON GROUP Ltd now owns 27,930 shares of the insurance provider’s stock valued at $113,000 after buying an additional 12,205 shares during the last quarter. Institutional investors own 61.31% of the company’s stock.

Hallmark Financial Services Company Profile

Hallmark Financial Services, Inc, through its subsidiaries, underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in the Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment markets, underwrites, finances, and services commercial lines of insurance products, including commercial automobile, general liability, commercial property, commercial excess liability, and commercial umbrella insurance products.

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