FedNat Holding (NASDAQ:FNHC) Short Interest Down 25.2% in March

FedNat Holding (NASDAQ:FNHC – Get Rating) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 101,000 shares, a drop of 25.2% from the March 15th total of 135,100 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily trading volume, of 77,000 shares, the short-interest ratio is presently 1.3 days.

FNHC stock traded down $0.04 during midday trading on Tuesday, hitting $0.91. The company’s stock had a trading volume of 1,038 shares, compared to its average volume of 81,140. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 1.67. FedNat has a 52-week low of $0.95 and a 52-week high of $5.33. The company has a market cap of $15.88 million, a price-to-earnings ratio of -0.15 and a beta of 0.90. The firm has a 50-day moving average of $1.26.

FedNat (NASDAQ:FNHC – Get Rating) last issued its quarterly earnings results on Thursday, March 3rd. The insurance provider reported ($0.42) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.31) by $0.89. The company had revenue of $66.97 million during the quarter, compared to analysts’ expectations of $82.60 million. FedNat had a negative net margin of 41.99% and a negative return on equity of 97.80%. During the same quarter last year, the company posted ($1.96) EPS. On average, research analysts expect that FedNat will post -0.3 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Moors & Cabot Inc. acquired a new stake in FedNat during the 3rd quarter worth $25,000. Assenagon Asset Management S.A. increased its stake in FedNat by 63.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 44,822 shares of the insurance provider’s stock valued at $63,000 after purchasing an additional 17,478 shares during the period. Raymond James & Associates acquired a new position in FedNat in the fourth quarter valued at $30,000. Veritable L.P. acquired a new position in FedNat in the third quarter valued at $74,000. Finally, Polaris Capital Management LLC increased its stake in FedNat by 14.9% in the fourth quarter. Polaris Capital Management LLC now owns 459,500 shares of the insurance provider’s stock valued at $648,000 after purchasing an additional 59,500 shares during the period. Hedge funds and other institutional investors own 41.22% of the company’s stock.

FNHC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of FedNat in a report on Tuesday. They set a “sell” rating for the company. Zacks Investment Research raised shares of FedNat from a “sell” rating to a “hold” rating in a research report on Tuesday, January 11th.

FedNat Company Profile (Get Rating)

FedNat Holding Company, together with its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama, and Mississippi. The company is involved in the homeowners and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.

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