Atlas Financial (AFH) Downgraded by BidaskClub

Atlas Financial (NASDAQ:AFH) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

A number of other equities analysts have also issued reports on AFH. ValuEngine upgraded shares of Atlas Financial from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. Zacks Investment Research lowered shares of Atlas Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Boenning Scattergood reiterated a “buy” rating on shares of Atlas Financial in a research report on Tuesday, November 7th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $24.00 target price on shares of Atlas Financial in a research report on Wednesday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Atlas Financial has an average rating of “Buy” and an average target price of $20.75.

Atlas Financial (NASDAQ AFH) opened at $20.35 on Thursday. The stock has a market cap of $256.86, a PE ratio of 145.37 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.59 and a quick ratio of 0.59. Atlas Financial has a 12-month low of $12.15 and a 12-month high of $21.45.

In other Atlas Financial news, Director Bruce Wayne Giles sold 7,776 shares of the company’s stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $20.10, for a total value of $156,297.60. Following the completion of the sale, the director now directly owns 79,018 shares of the company’s stock, valued at approximately $1,588,261.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Paul Anthony Romano, Jr. sold 6,384 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $20.31, for a total transaction of $129,659.04. Following the completion of the sale, the vice president now directly owns 82,534 shares of the company’s stock, valued at $1,676,265.54. The disclosure for this sale can be found here. Insiders sold a total of 179,029 shares of company stock valued at $3,549,810 over the last three months. 13.30% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. purchased a new stake in Atlas Financial during the second quarter valued at about $151,000. Citadel Advisors LLC purchased a new stake in Atlas Financial during the second quarter valued at about $161,000. Parametric Portfolio Associates LLC purchased a new stake in Atlas Financial during the second quarter valued at about $165,000. Rhumbline Advisers lifted its stake in Atlas Financial by 2.5% during the second quarter. Rhumbline Advisers now owns 11,737 shares of the insurance provider’s stock valued at $175,000 after buying an additional 290 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC purchased a new stake in Atlas Financial during the third quarter valued at about $386,000. 79.73% of the stock is owned by institutional investors.

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About Atlas Financial

Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.

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