Maltese Capital Management LLC Takes Position in Neptune Insurance Holdings Inc. $NP

Maltese Capital Management LLC purchased a new position in Neptune Insurance Holdings Inc. (NYSE:NP) during the 3rd quarter, HoldingsChannel reports. The fund purchased 100,000 shares of the company’s stock, valued at approximately $3,200,000.

Separately, Emerald Mutual Fund Advisers Trust acquired a new stake in Neptune Insurance in the 3rd quarter valued at about $792,000.

Neptune Insurance Stock Up 0.1%

NYSE:NP opened at $21.89 on Tuesday. Neptune Insurance Holdings Inc. has a 52 week low of $14.78 and a 52 week high of $33.23. The stock’s fifty day moving average is $22.97 and its two-hundred day moving average is $26.18. The company has a market capitalization of $3.02 billion and a P/E ratio of 99.49.

Neptune Insurance (NYSE:NP) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $43.77 million for the quarter, compared to analyst estimates of $39.42 million.

Insider Activity

In related news, Director Michael Warren Vostrizansky bought 23,000 shares of the stock in a transaction on Friday, February 20th. The stock was bought at an average price of $21.50 per share, with a total value of $494,500.00. Following the completion of the purchase, the director directly owned 23,000 shares in the company, valued at $494,500. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Trevor R. Burgess purchased 50,000 shares of the company’s stock in a transaction on Friday, March 13th. The shares were bought at an average price of $18.71 per share, with a total value of $935,500.00. Following the completion of the transaction, the chief executive officer owned 2,082,964 shares of the company’s stock, valued at approximately $38,972,256.44. The trade was a 2.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.

Analyst Ratings Changes

Several research analysts have recently weighed in on NP shares. Raymond James Financial set a $24.00 target price on Neptune Insurance in a report on Monday, February 23rd. Evercore set a $30.00 target price on Neptune Insurance in a report on Thursday, February 19th. Morgan Stanley cut their target price on Neptune Insurance from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Mizuho upgraded Neptune Insurance from an “underperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $24.00 in a report on Wednesday, February 25th. Finally, Weiss Ratings started coverage on shares of Neptune Insurance in a research report on Wednesday, December 24th. They set a “sell (d)” rating on the stock. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Neptune Insurance Company 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.