Manchester Global Management UK Ltd Buys New Shares in Neptune Insurance Holdings Inc. $NP

Manchester Global Management UK Ltd bought a new position in shares of Neptune Insurance Holdings Inc. (NYSE:NP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 65,180 shares of the company’s stock, valued at approximately $1,901,000. Neptune Insurance makes up approximately 0.3% of Manchester Global Management UK Ltd’s portfolio, making the stock its 21st largest position.

Other hedge funds have also recently bought and sold shares of the company. Maltese Capital Management LLC acquired a new position in shares of Neptune Insurance during the 3rd quarter worth approximately $3,200,000. Comerica Bank acquired a new stake in shares of Neptune Insurance in the 4th quarter valued at approximately $1,507,000. Capital World Investors bought a new position in shares of Neptune Insurance in the fourth quarter valued at $32,091,000. Vanguard Group Inc. acquired a new position in Neptune Insurance during the fourth quarter worth $47,063,000. Finally, Bregal Sagemount IV General Partner Jersey Ltd bought a new stake in Neptune Insurance during the fourth quarter worth $569,509,000.

Neptune Insurance Price Performance

NYSE:NP opened at $27.97 on Wednesday. The company has a market cap of $3.87 billion and a P/E ratio of 103.59. The firm’s fifty day moving average price is $26.89 and its two-hundred day moving average price is $25.29. Neptune Insurance Holdings Inc. has a one year low of $14.78 and a one year high of $33.23.

Neptune Insurance (NYSE:NP) last announced its earnings results on Wednesday, April 22nd. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $37.80 million for the quarter, compared to the consensus estimate of $36.96 million. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, equities research analysts expect that Neptune Insurance Holdings Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Hold 101 Lp Bsiv sold 688,403 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $18,173,839.20. Following the transaction, the insider owned 14,252,718 shares of the company’s stock, valued at approximately $376,271,755.20. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Vii L.P. Ftv sold 787,806 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $26.40, for a total value of $20,798,078.40. Following the transaction, the insider owned 16,310,781 shares in the company, valued at approximately $430,604,618.40. This trade represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 11,317,604 shares of company stock valued at $298,784,746. Corporate insiders own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NP shares. Weiss Ratings reissued a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Bank of America upped their target price on shares of Neptune Insurance from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Evercore reiterated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Keefe, Bruyette & Woods boosted their price target on Neptune Insurance from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Finally, Mizuho upped their price objective on Neptune Insurance from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 13th. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Neptune Insurance presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.73.

Neptune Insurance Profile

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.