Maiden (NASDAQ:MHLD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, March 9th.
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. “
Other equities analysts also recently issued research reports about the stock. ValuEngine cut shares of Maiden from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $7.00 price objective on shares of Maiden in a research report on Wednesday, December 6th. Finally, BidaskClub upgraded shares of Maiden from a “sell” rating to a “hold” rating in a research report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.40.
Maiden (NASDAQ:MHLD) last issued its quarterly earnings results on Wednesday, February 28th. The insurance provider reported ($1.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($1.84). The firm had revenue of $703.14 million for the quarter, compared to the consensus estimate of $720.40 million. Maiden had a negative return on equity of 16.99% and a negative net margin of 5.82%. equities analysts predict that Maiden will post 1.1 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in MHLD. The Manufacturers Life Insurance Company lifted its stake in shares of Maiden by 5.1% in the second quarter. The Manufacturers Life Insurance Company now owns 56,148 shares of the insurance provider’s stock valued at $622,000 after buying an additional 2,736 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Maiden by 12.9% in the third quarter. First Trust Advisors LP now owns 77,422 shares of the insurance provider’s stock valued at $616,000 after buying an additional 8,850 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Maiden during the third quarter valued at about $239,000. IndexIQ Advisors LLC lifted its position in shares of Maiden by 83.0% during the third quarter. IndexIQ Advisors LLC now owns 61,911 shares of the insurance provider’s stock valued at $492,000 after purchasing an additional 28,089 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Maiden by 6.6% during the third quarter. Boston Partners now owns 4,877,487 shares of the insurance provider’s stock valued at $38,776,000 after purchasing an additional 302,529 shares in the last quarter. 66.16% of the stock is currently owned by hedge funds and other institutional investors.
Maiden Company Profile
Maiden Holdings, Ltd., through its subsidiaries, provides reinsurance solutions to regional and specialty insurers in the United States, Europe, and internationally. It operates in two segments, Diversified Reinsurance and AmTrust Reinsurance. The Diversified Reinsurance segment offers property and casualty reinsurance, including the writing of treaties on a quota share or excess of loss basis; and facultative risks, which are marketed through third-party intermediaries and on a direct basis.
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