Short Interest in Hallmark Financial Services, Inc. (NASDAQ:HALL) Increases By 23.4%

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Hallmark Financial Services, Inc. (NASDAQ:HALL) saw a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 279,700 shares, an increase of 23.4% from the November 14th total of 226,700 shares. Based on an average trading volume of 124,300 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.6% of the shares of the company are sold short.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, November 13th. BidaskClub raised shares of Hallmark Financial Services from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Hallmark Financial Services currently has a consensus rating of “Buy” and an average target price of $17.67.

Shares of HALL traded up $0.04 during midday trading on Friday, hitting $18.37. 79,210 shares of the stock traded hands, compared to its average volume of 71,733. Hallmark Financial Services has a 1-year low of $9.48 and a 1-year high of $20.30. The firm has a market capitalization of $336.00 million, a PE ratio of 18.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.50 and a current ratio of 0.50. The business’s 50 day moving average price is $18.31 and its two-hundred day moving average price is $16.61.

Hallmark Financial Services (NASDAQ:HALL) last issued its quarterly earnings data on Thursday, November 7th. The insurance provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. Hallmark Financial Services had a net margin of 6.39% and a return on equity of 8.85%. The business had revenue of $117.85 million for the quarter, compared to analysts’ expectations of $117.45 million. As a group, equities research analysts forecast that Hallmark Financial Services will post 1.46 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of HALL. Strs Ohio bought a new stake in shares of Hallmark Financial Services during the second quarter valued at about $542,000. Sigma Planning Corp bought a new stake in shares of Hallmark Financial Services during the second quarter valued at about $218,000. Hillsdale Investment Management Inc. bought a new stake in shares of Hallmark Financial Services during the second quarter valued at about $102,000. Teton Advisors Inc. raised its stake in shares of Hallmark Financial Services by 3.4% during the second quarter. Teton Advisors Inc. now owns 195,270 shares of the insurance provider’s stock valued at $2,779,000 after purchasing an additional 6,340 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Hallmark Financial Services by 3.4% during the second quarter. JPMorgan Chase & Co. now owns 113,084 shares of the insurance provider’s stock valued at $1,586,000 after purchasing an additional 3,707 shares in the last quarter. Institutional investors and hedge funds own 65.54% of the company’s stock.

Hallmark Financial Services Company Profile

Hallmark Financial Services, Inc, through its subsidiaries, underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in the Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment markets, underwrites, finances, and services commercial lines of insurance products, including commercial automobile, general liability, commercial property, commercial excess liability, and commercial umbrella insurance products.

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