TWFG (NASDAQ:TWFG) Shares Gap Up – Here’s What Happened

TWFG, Inc. (NASDAQ:TWFG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $19.89, but opened at $20.83. TWFG shares last traded at $21.4840, with a volume of 23,880 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TWFG shares. JPMorgan Chase & Co. decreased their target price on TWFG from $27.00 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TWFG in a research report on Monday, May 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating on shares of TWFG in a research report on Monday. Morgan Stanley decreased their target price on TWFG from $24.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, May 21st. Finally, Zacks Research raised TWFG from a “hold” rating to a “strong-buy” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.86.

TWFG Stock Performance

The company’s fifty day moving average is $18.94 and its 200 day moving average is $22.44. The company has a market capitalization of $1.20 billion, a P/E ratio of 40.93 and a beta of 0.46. The company has a current ratio of 94.71, a quick ratio of 94.71 and a debt-to-equity ratio of 0.01.

TWFG (NASDAQ:TWFG) last posted its earnings results on Thursday, May 7th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. The business had revenue of $72.84 million during the quarter, compared to analyst estimates of $67.67 million. TWFG had a return on equity of 15.96% and a net margin of 3.04%. As a group, equities analysts anticipate that TWFG, Inc. will post 0.97 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Michael Doak bought 24,880 shares of TWFG stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $18.62 per share, with a total value of $463,265.60. Following the acquisition, the director directly owned 668,398 shares of the company’s stock, valued at $12,445,570.76. This represents a 3.87% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders bought 160,852 shares of company stock worth $3,034,663. 68.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP grew its holdings in shares of TWFG by 52.5% during the second quarter. Quantbot Technologies LP now owns 4,053 shares of the company’s stock worth $142,000 after purchasing an additional 1,395 shares in the last quarter. Jane Street Group LLC bought a new stake in TWFG in the 2nd quarter worth approximately $1,219,000. Bank of America Corp DE lifted its position in TWFG by 287.2% in the 2nd quarter. Bank of America Corp DE now owns 50,618 shares of the company’s stock worth $1,772,000 after buying an additional 37,546 shares during the last quarter. Bamco Inc. NY lifted its position in TWFG by 3.9% in the 2nd quarter. Bamco Inc. NY now owns 902,061 shares of the company’s stock worth $31,572,000 after buying an additional 34,237 shares during the last quarter. Finally, Boothbay Fund Management LLC lifted its position in TWFG by 225.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 41,334 shares of the company’s stock worth $1,447,000 after buying an additional 28,634 shares during the last quarter.

TWFG Company Profile

TWFG Insurance Services, Inc operates as a property and casualty insurance distribution company that provides personal and commercial insurance solutions through a hybrid model of company-owned branches and franchised offices. The firm offers a broad spectrum of insurance products, including auto, homeowners, renters, umbrella, flood and specialty lines coverage, tailored to meet the needs of individuals, families and businesses. By partnering with multiple insurance carriers, TWFG delivers competitive pricing and customized policy options designed to help clients manage risk and protect their assets.

Founded in 1980 and headquartered in Odessa, Texas, TWFG has expanded its network to serve customers across numerous U.S.