Atlas Financial (AFH) Shares Down 8.3%

Atlas Financial Holdings Inc (NASDAQ:AFH) traded down 8.3% on Friday . The company traded as low as $2.30 and last traded at $2.32. 640,639 shares traded hands during trading, an increase of 99% from the average session volume of 322,407 shares. The stock had previously closed at $2.53.

A number of brokerages have recently commented on AFH. ValuEngine raised Atlas Financial from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Zacks Investment Research lowered Atlas Financial from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th.

The company has a debt-to-equity ratio of 0.24, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market cap of $31.39 million, a P/E ratio of -1.36 and a beta of 1.00.

Atlas Financial (NASDAQ:AFH) last issued its quarterly earnings data on Monday, March 4th. The insurance provider reported ($3.48) EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($3.90). The company had revenue of $52.08 million for the quarter, compared to analyst estimates of $51.50 million. Atlas Financial had a negative net margin of 16.63% and a negative return on equity of 21.42%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tieton Capital Management LLC grew its holdings in Atlas Financial by 24.6% in the 3rd quarter. Tieton Capital Management LLC now owns 758,000 shares of the insurance provider’s stock valued at $7,618,000 after buying an additional 149,590 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Atlas Financial in the 3rd quarter valued at approximately $819,000. Dimensional Fund Advisors LP grew its holdings in Atlas Financial by 14.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 527,644 shares of the insurance provider’s stock valued at $5,303,000 after buying an additional 65,674 shares during the last quarter. United Services Automobile Association grew its holdings in Atlas Financial by 3.1% in the 3rd quarter. United Services Automobile Association now owns 201,500 shares of the insurance provider’s stock valued at $2,025,000 after buying an additional 6,100 shares during the last quarter. Finally, New Vernon Investment Management LLC acquired a new stake in Atlas Financial in the 3rd quarter valued at approximately $1,155,000. 74.14% of the stock is currently owned by institutional investors and hedge funds.

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About Atlas Financial (NASDAQ:AFH)

Atlas Financial Holdings, Inc, through its subsidiaries, engages in underwriting commercial automobile insurance policies in the United States. Its automobile insurance products provide insurance coverage in three primary areas, including liability, accident benefits, and physical damage. The company focuses on the light commercial automobile sector, including taxi cabs, non-emergency para-transit, limousine, livery, and business autos.

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