Zacks Investment Research Downgrades Maiden (MHLD) to Strong Sell

Zacks Investment Research downgraded shares of Maiden (NASDAQ:MHLD) from a hold rating to a strong sell rating in a research report released on Tuesday.

According to Zacks, “MAIDEN HOLDINGS is a Bermuda holding company which offers customized reinsurance products and services through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to subsidiaries of AmTrust Financial Services, Inc. and small insurance companies and managing general agents in the United States and Europe. “

Several other brokerages have also issued reports on MHLD. BidaskClub raised Maiden from a sell rating to a hold rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $10.00 target price on shares of Maiden in a research note on Friday, November 3rd. FBR & Co reaffirmed a hold rating and issued a $11.00 target price on shares of Maiden in a research note on Monday, September 25th. Finally, B. Riley reaffirmed a neutral rating and issued a $10.00 target price on shares of Maiden in a research note on Monday, November 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $10.40.

Shares of Maiden (NASDAQ MHLD) traded up $0.15 during midday trading on Tuesday, hitting $7.70. The stock had a trading volume of 316,383 shares, compared to its average volume of 725,155. Maiden has a 52 week low of $5.55 and a 52 week high of $18.95. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $651.61, a price-to-earnings ratio of -4.72 and a beta of 1.17.

Maiden (NASDAQ:MHLD) last issued its quarterly earnings data on Wednesday, November 8th. The insurance provider reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.77). Maiden had a negative return on equity of 9.10% and a negative net margin of 3.95%. The business had revenue of $653.87 million for the quarter, compared to analysts’ expectations of $708.04 million. During the same period in the previous year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. analysts anticipate that Maiden will post -0.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Tuesday, January 2nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.79%. The ex-dividend date is Friday, December 29th. Maiden’s dividend payout ratio is currently -36.81%.

In other news, Director Raymond Michael Neff bought 46,500 shares of the business’s stock in a transaction on Monday, November 13th. The stock was acquired at an average price of $6.40 per share, with a total value of $297,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.00% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MHLD. Dynamic Technology Lab Private Ltd purchased a new stake in Maiden in the second quarter worth approximately $115,000. SG Americas Securities LLC bought a new stake in Maiden in the second quarter valued at approximately $115,000. Koch Industries Inc. bought a new stake in Maiden in the second quarter valued at approximately $126,000. Engineers Gate Manager LP bought a new stake in Maiden in the third quarter valued at approximately $129,000. Finally, Quantum Capital Management lifted its position in Maiden by 1.8% in the second quarter. Quantum Capital Management now owns 11,890 shares of the insurance provider’s stock valued at $132,000 after purchasing an additional 209 shares during the last quarter. 65.83% of the stock is owned by institutional investors and hedge funds.

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Maiden Company Profile

Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.

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