Militia Capital Management LLC Buys Shares of 200,658 American Coastal Insurance Corporation $ACIC

Militia Capital Management LLC purchased a new position in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) during the first quarter, HoldingsChannel reports. The firm purchased 200,658 shares of the company’s stock, valued at approximately $2,257,000.

Several other hedge funds have also recently added to or reduced their stakes in ACIC. JPMorgan Chase & Co. lifted its holdings in American Coastal Insurance by 549.9% in the second quarter. JPMorgan Chase & Co. now owns 118,616 shares of the company’s stock valued at $1,319,000 after buying an additional 100,365 shares during the period. Russell Investments Group Ltd. grew its stake in American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock valued at $30,000 after acquiring an additional 2,615 shares during the period. Quantbot Technologies LP grew its position in American Coastal Insurance by 762.8% in the 2nd quarter. Quantbot Technologies LP now owns 32,374 shares of the company’s stock valued at $360,000 after purchasing an additional 28,622 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of American Coastal Insurance during the second quarter worth about $767,000. Finally, Invesco Ltd. increased its holdings in American Coastal Insurance by 9.7% during the 2nd quarter. Invesco Ltd. now owns 19,674 shares of the company’s stock worth $219,000 after purchasing an additional 1,736 shares in the last quarter. Institutional investors own 22.11% of the company’s stock.

American Coastal Insurance Stock Performance

NASDAQ ACIC opened at $10.62 on Monday. The company has a fifty day moving average of $10.67 and a 200-day moving average of $11.05. American Coastal Insurance Corporation has a 52-week low of $9.77 and a 52-week high of $13.06. The company has a market capitalization of $514.69 million, a P/E ratio of 5.06, a P/E/G ratio of 3.69 and a beta of -0.51.

American Coastal Insurance (NASDAQ:ACIC) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.05). The firm had revenue of $71.22 million for the quarter, compared to the consensus estimate of $75.78 million. American Coastal Insurance had a net margin of 31.32% and a return on equity of 32.26%. As a group, analysts forecast that American Coastal Insurance Corporation will post 0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ACIC has been the subject of several recent analyst reports. Weiss Ratings lowered shares of American Coastal Insurance from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, July 23rd. Wall Street Zen lowered American Coastal Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut American Coastal Insurance from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce”.

American Coastal Insurance Profile

American Coastal Insurance Company (NASDAQ:ACIC) is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.