Conifer (NASDAQ:CNFR) Shares Pass Below Fifty Day Moving Average – Here’s Why

Conifer Holdings, Inc. (NASDAQ:CNFR) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $1.03 and traded as low as $0.88. Conifer shares last traded at $0.90, with a volume of 1,495 shares.

Conifer Stock Performance

The firm’s 50 day simple moving average is $1.03 and its 200-day simple moving average is $1.07. The company has a market capitalization of $11.00 million, a price-to-earnings ratio of 0.37 and a beta of 0.55. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.66.

Insider Activity

In other Conifer news, CEO Brian J. Roney sold 100,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $2.00, for a total transaction of $200,000.00. Following the completion of the sale, the chief executive officer now directly owns 410,232 shares in the company, valued at approximately $820,464. This trade represents a 19.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 70.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Conifer

A hedge fund recently bought a new stake in Conifer stock. Citadel Advisors LLC purchased a new stake in shares of Conifer Holdings, Inc. (NASDAQ:CNFR) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 22,412 shares of the insurance provider’s stock, valued at approximately $26,000. Citadel Advisors LLC owned about 0.18% of Conifer at the end of the most recent reporting period. Institutional investors own 34.88% of the company’s stock.

About Conifer

Conifer Holdings, Inc, an insurance holding company, engages in the sale of property and casualty insurance products. The company offers insurance coverage in specialty commercial and personal product lines. It also underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies.