Zacks Investment Research downgraded shares of Maiden (NASDAQ:MHLD) from a hold rating to a strong sell rating in a report published on Tuesday.
According to Zacks, “MAIDEN HOLDINGS is a Bermuda holding company which offers customized reinsurance products and services through Maiden Insurance Company, Ltd., its wholly owned Bermuda reinsurance subsidiary, to subsidiaries of AmTrust Financial Services, Inc. and small insurance companies and managing general agents in the United States and Europe. “
A number of other brokerages also recently commented on MHLD. B. Riley reaffirmed a neutral rating and set a $10.00 price objective on shares of Maiden in a research report on Monday, November 6th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $10.00 price objective on shares of Maiden in a research report on Friday, November 3rd. FBR & Co reaffirmed a hold rating and set a $11.00 price objective on shares of Maiden in a research report on Monday, September 25th. Finally, BidaskClub downgraded shares of Maiden from a hold rating to a sell rating in a research report on Thursday, December 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $10.40.
Shares of Maiden (MHLD) traded up $0.15 on Tuesday, reaching $7.70. 316,383 shares of the company were exchanged, compared to its average volume of 725,155. Maiden has a 52-week low of $5.55 and a 52-week high of $18.95. The stock has a market capitalization of $651.61, a P/E ratio of -4.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.18 and a quick ratio of 0.18.
Maiden (NASDAQ:MHLD) last announced its quarterly earnings data 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). Maiden had a negative net margin of 3.95% and a negative return on equity of 9.10%. The company had revenue of $653.87 million for the quarter, compared to analysts’ expectations of $708.04 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. equities analysts predict that Maiden will post -0.35 earnings per share for the current year.
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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.79%. The ex-dividend date of this dividend is Friday, December 29th. Maiden’s payout ratio is presently -36.81%.
In other Maiden news, Director Raymond Michael Neff bought 46,500 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was bought at an average cost of $6.40 per share, with a total value of $297,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.00% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new stake in Maiden in the second quarter worth approximately $115,000. BNP Paribas Arbitrage SA grew its position in Maiden by 63.0% in the third quarter. BNP Paribas Arbitrage SA now owns 40,229 shares of the insurance provider’s stock worth $320,000 after acquiring an additional 15,548 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in Maiden in the third quarter worth approximately $239,000. Shell Asset Management Co. grew its position in Maiden by 34.3% in the third quarter. Shell Asset Management Co. now owns 184,625 shares of the insurance provider’s stock worth $2,046,000 after acquiring an additional 47,196 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Maiden by 12.7% in the third quarter. Principal Financial Group Inc. now owns 3,399,545 shares of the insurance provider’s stock worth $27,027,000 after acquiring an additional 383,524 shares in the last quarter. 65.83% of the stock is owned by institutional investors.
Maiden Company Profile
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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