Maiden Holdings, Ltd. (NASDAQ:MHLD) – Investment analysts at B. Riley cut their FY2017 earnings per share (EPS) estimates for Maiden Holdings in a research note issued on Thursday. B. Riley analyst R. Binner now expects that the insurance provider will post earnings of ($0.35) per share for the year, down from their previous forecast of $0.45. B. Riley has a “Neutral” rating and a $10.00 price target on the stock.
A number of other analysts have also weighed in on MHLD. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Maiden Holdings in a research note on Friday, November 3rd. FBR & Co reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Maiden Holdings in a research note on Monday, September 25th. Zacks Investment Research lowered shares of Maiden Holdings from a “hold” rating to a “strong sell” rating in a research note on Saturday, September 23rd. JMP Securities reissued a “mkt outperform” rating and set a $9.00 price target on shares of Maiden Holdings in a research report on Thursday, August 10th. Finally, BidaskClub lowered shares of Maiden Holdings from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $11.00.
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Maiden Holdings (NASDAQ:MHLD) opened at $6.17 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.27. Maiden Holdings has a 1-year low of $6.15 and a 1-year high of $18.95.
Maiden Holdings (NASDAQ:MHLD) last posted its quarterly earnings results on Wednesday, November 8th. The insurance provider reported ($0.66) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.77). The company had revenue of $653.87 million during the quarter, compared to the consensus estimate of $708.04 million. Maiden Holdings had a negative return on equity of 9.10% and a negative net margin of 3.95%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.39 earnings per share.
Institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. acquired a new position in Maiden Holdings in the 3rd quarter worth approximately $474,000. Engineers Gate Manager LP acquired a new position in Maiden Holdings in the 3rd quarter worth approximately $129,000. Salzhauer Michael increased its holdings in Maiden Holdings by 120.1% in the 3rd quarter. Salzhauer Michael now owns 38,493 shares of the insurance provider’s stock worth $306,000 after buying an additional 21,005 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in Maiden Holdings by 9.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 684,310 shares of the insurance provider’s stock worth $5,441,000 after buying an additional 60,847 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Maiden Holdings by 14.1% in the 3rd quarter. Wells Fargo & Company MN now owns 1,577,213 shares of the insurance provider’s stock worth $12,539,000 after buying an additional 194,708 shares during the period. 68.51% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Raymond Michael Neff acquired 46,500 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was purchased at an average cost of $6.40 per share, with a total value of $297,600.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Tuesday, January 2nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.72%. The ex-dividend date is Friday, December 29th. Maiden Holdings’s payout ratio is currently -36.59%.
About Maiden Holdings
Maiden Holdings, Ltd. (Maiden) is a holding company. The Company focuses on serving the needs of regional and specialty insurers in the United States, Europe and select other global markets by providing reinsurance solutions designed to support their capital needs. It operates through two segments: Diversified Reinsurance and AmTrust Reinsurance.
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