Hallmark Financial Services, Inc. (NASDAQ:HALL) Sees Significant Decrease in Short Interest

Hallmark Financial Services, Inc. (NASDAQ:HALLGet Rating) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totalling 70,900 shares, a decline of 21.0% from the March 15th total of 89,800 shares. Based on an average trading volume of 58,100 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.5% of the company’s stock are short sold.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in Hallmark Financial Services by 13.0% in the third quarter. BlackRock Inc. now owns 259,963 shares of the insurance provider’s stock worth $948,000 after buying an additional 29,837 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Hallmark Financial Services by 21.3% in the third quarter. Advisor Group Holdings Inc. now owns 18,200 shares of the insurance provider’s stock worth $67,000 after buying an additional 3,200 shares in the last quarter. Geode Capital Management LLC increased its position in Hallmark Financial Services by 5.2% in the third quarter. Geode Capital Management LLC now owns 148,861 shares of the insurance provider’s stock worth $543,000 after buying an additional 7,387 shares in the last quarter. Northern Trust Corp increased its position in Hallmark Financial Services by 15.3% in the fourth quarter. Northern Trust Corp now owns 45,093 shares of the insurance provider’s stock worth $196,000 after buying an additional 5,976 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Hallmark Financial Services by 23.5% in the second quarter. Morgan Stanley now owns 33,184 shares of the insurance provider’s stock worth $148,000 after acquiring an additional 6,308 shares during the period. Institutional investors and hedge funds own 21.36% of the company’s stock.

Hallmark Financial Services stock traded up $0.02 during mid-day trading on Tuesday, reaching $3.47. 23 shares of the stock traded hands, compared to its average volume of 55,370. The firm has a market capitalization of $63.06 million, a PE ratio of 6.39 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.60. Hallmark Financial Services has a 12-month low of $3.27 and a 12-month high of $5.70. The firm’s 50-day simple moving average is $3.83.

Hallmark Financial Services (NASDAQ:HALLGet Rating) last posted its quarterly earnings data on Wednesday, March 16th. The insurance provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). Hallmark Financial Services had a net margin of 2.38% and a return on equity of 0.94%. Equities research analysts expect that Hallmark Financial Services will post 0.3 EPS for the current fiscal year.

Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on Hallmark Financial Services in a research note on Tuesday. They issued a “hold” rating for the company. Zacks Investment Research cut Hallmark Financial Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 24th. Finally, Maxim Group boosted their price target on Hallmark Financial Services from $5.00 to $6.00 in a research note on Tuesday, January 4th.

About Hallmark Financial Services (Get Rating)

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment offers primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S package and garage liability insurance products and services; primary and excess commercial property insurance for catastrophe and non-catastrophe exposures; healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities, and senior care facilities; and satellite launch property/casualty insurance products and services, as well as various specialty programs.

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