American Coastal Insurance (NASDAQ:ACIC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of American Coastal Insurance (NASDAQ:ACIC) from a hold rating to a buy rating in a report published on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Coastal Insurance in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, American Coastal Insurance presently has an average rating of “Hold”.

American Coastal Insurance Price Performance

Shares of NASDAQ:ACIC opened at $11.85 on Friday. The firm’s fifty day moving average is $11.72. The company has a market capitalization of $577.81 million, a P/E ratio of 6.93 and a beta of -0.49. American Coastal Insurance has a 1-year low of $9.97 and a 1-year high of $15.08.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.61 EPS for the quarter. The firm had revenue of $0.09 million for the quarter. American Coastal Insurance had a net margin of 25.95% and a return on equity of 30.06%.

Hedge Funds Weigh In On American Coastal Insurance

Several institutional investors and hedge funds have recently bought and sold shares of ACIC. Russell Investments Group Ltd. raised its stake in shares of American Coastal Insurance by 4,508.6% in the second quarter. Russell Investments Group Ltd. now owns 2,673 shares of the company’s stock worth $30,000 after buying an additional 2,615 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of American Coastal Insurance by 273.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,692 shares of the company’s stock worth $52,000 after purchasing an additional 3,434 shares during the period. State of Wyoming purchased a new stake in shares of American Coastal Insurance in the second quarter worth $59,000. Quarry LP lifted its stake in shares of American Coastal Insurance by 583.3% during the 3rd quarter. Quarry LP now owns 5,965 shares of the company’s stock valued at $68,000 after buying an additional 5,092 shares in the last quarter. Finally, Tactive Advisors LLC bought a new position in American Coastal Insurance in the 2nd quarter worth $120,000. 22.11% of the stock is currently owned by hedge funds and other institutional investors.

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.