Atlas Financial (AFH) Downgraded by BidaskClub

Atlas Financial (NASDAQ:AFH) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Several other research firms have also weighed in on AFH. Zacks Investment Research upgraded shares of Atlas Financial from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research note on Monday, December 25th. Sandler O’Neill reiterated a “buy” rating and set a $24.00 target price on shares of Atlas Financial in a research note on Wednesday. Boenning Scattergood reiterated a “buy” rating on shares of Atlas Financial in a research note on Tuesday, November 7th. Finally, ValuEngine upgraded shares of Atlas Financial from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.75.

Shares of Atlas Financial (NASDAQ:AFH) opened at $20.35 on Thursday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. Atlas Financial has a 12 month low of $12.15 and a 12 month high of $21.45. The firm has a market cap of $256.86, a price-to-earnings ratio of 145.37 and a beta of 0.88.

In other news, CEO Scott D. Wollney sold 4,852 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $18.75, for a total transaction of $90,975.00. Following the completion of the transaction, the chief executive officer now owns 340,524 shares in the company, valued at $6,384,825. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott D. Wollney sold 12,443 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $20.10, for a total transaction of $250,104.30. Following the transaction, the chief executive officer now owns 345,151 shares of the company’s stock, valued at approximately $6,937,535.10. The disclosure for this sale can be found here. Insiders have sold 179,029 shares of company stock valued at $3,549,810 in the last 90 days. Insiders own 13.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Northpointe Capital LLC bought a new position in Atlas Financial in the 3rd quarter valued at about $2,899,000. Wasatch Advisors Inc. grew its position in Atlas Financial by 13.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 780,955 shares of the insurance provider’s stock valued at $14,760,000 after buying an additional 90,246 shares in the last quarter. Kennedy Capital Management Inc. grew its position in Atlas Financial by 164.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 107,970 shares of the insurance provider’s stock valued at $1,609,000 after buying an additional 67,196 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Atlas Financial by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 268,143 shares of the insurance provider’s stock valued at $3,995,000 after buying an additional 64,629 shares in the last quarter. Finally, GMT Capital Corp bought a new position in Atlas Financial in the 3rd quarter valued at about $902,000. Institutional investors and hedge funds own 79.73% of the company’s stock.

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About Atlas Financial

Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.

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