American Coastal Insurance (NASDAQ:ACIC) Cut to Strong Sell at Zacks Research

American Coastal Insurance (NASDAQ:ACIC) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research analysts have also weighed in on ACIC. Wall Street Zen lowered shares of American Coastal Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of American Coastal Insurance from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, American Coastal Insurance has an average rating of “Hold”.

American Coastal Insurance Price Performance

American Coastal Insurance stock opened at $10.80 on Thursday. The company’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $11.56. American Coastal Insurance has a fifty-two week low of $9.80 and a fifty-two week high of $13.06. The firm has a market capitalization of $523.37 million, a price-to-earnings ratio of 5.14, a PEG ratio of 3.20 and a beta of -0.46.

American Coastal Insurance (NASDAQ:ACIC) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). American Coastal Insurance had a return on equity of 32.26% and a net margin of 31.32%.The firm had revenue of $71.22 million for the quarter, compared to the consensus estimate of $75.78 million. As a group, analysts predict that American Coastal Insurance will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACIC. Sei Investments Co. lifted its stake in American Coastal Insurance by 118.6% in the first quarter. Sei Investments Co. now owns 601,481 shares of the company’s stock valued at $6,767,000 after buying an additional 326,340 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in American Coastal Insurance by 433.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 317,891 shares of the company’s stock valued at $3,576,000 after buying an additional 258,344 shares in the last quarter. Militia Capital Management LLC bought a new position in American Coastal Insurance in the first quarter valued at approximately $2,257,000. Empyrean Capital Partners LP lifted its stake in American Coastal Insurance by 19.8% in the first quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company’s stock valued at $12,679,000 after buying an additional 186,487 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in American Coastal Insurance by 216.9% in the fourth quarter. Empowered Funds LLC now owns 269,899 shares of the company’s stock valued at $3,206,000 after buying an additional 184,720 shares in the last quarter. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Company Profile

American Coastal Insurance Company (NASDAQ:ACIC) is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.