Bastion Asset Management Inc. Purchases 73,389 Shares of American Coastal Insurance Corporation $ACIC

Bastion Asset Management Inc. raised its position in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) by 24.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 373,073 shares of the company’s stock after purchasing an additional 73,389 shares during the period. American Coastal Insurance comprises about 2.0% of Bastion Asset Management Inc.’s investment portfolio, making the stock its 20th largest position. Bastion Asset Management Inc.’s holdings in American Coastal Insurance were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Militia Capital Partners LP lifted its position in American Coastal Insurance by 101.5% during the 1st quarter. Militia Capital Partners LP now owns 90,658 shares of the company’s stock valued at $1,049,000 after acquiring an additional 45,658 shares during the period. Strs Ohio purchased a new stake in American Coastal Insurance in the first quarter worth about $485,000. Finally, Farther Finance Advisors LLC increased its stake in shares of American Coastal Insurance by 17.0% during the second quarter. Farther Finance Advisors LLC now owns 51,736 shares of the company’s stock valued at $575,000 after purchasing an additional 7,519 shares in the last quarter. 22.11% of the stock is owned by hedge funds and other institutional investors.

American Coastal Insurance Stock Performance

Shares of NASDAQ ACIC opened at $12.19 on Friday. The stock has a market cap of $594.38 million, a price-to-earnings ratio of 7.13 and a beta of -0.49. American Coastal Insurance Corporation has a twelve month low of $9.97 and a twelve month high of $15.08. The stock has a 50 day moving average price of $11.57.

American Coastal Insurance (NASDAQ:ACIC) last posted its earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter. The business had revenue of $0.09 million during the quarter. American Coastal Insurance had a return on equity of 31.89% and a net margin of 25.95%.

Analyst Ratings Changes

Several analysts recently weighed in on ACIC shares. Wall Street Zen upgraded American Coastal Insurance from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of American Coastal Insurance in a research note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, American Coastal Insurance currently has an average rating of “Hold”.

About American Coastal Insurance

American Coastal Insurance Corporation operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.