Emerald Mutual Fund Advisers Trust Has $146,000 Stock Position in Ategrity Specialty $ASIC

Emerald Mutual Fund Advisers Trust lessened its stake in shares of Ategrity Specialty (NYSE:ASIC) by 86.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,410 shares of the company’s stock after selling 46,259 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Ategrity Specialty were worth $146,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ASIC. Millennium Management LLC lifted its stake in shares of Ategrity Specialty by 312.6% in the 4th quarter. Millennium Management LLC now owns 207,167 shares of the company’s stock valued at $4,353,000 after acquiring an additional 156,952 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Ategrity Specialty by 298.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 170,734 shares of the company’s stock worth $3,587,000 after acquiring an additional 127,849 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ategrity Specialty by 57.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 287,644 shares of the company’s stock worth $6,044,000 after purchasing an additional 105,254 shares in the last quarter. Walleye Capital LLC increased its holdings in Ategrity Specialty by 290.0% in the 4th quarter. Walleye Capital LLC now owns 94,214 shares of the company’s stock worth $1,979,000 after purchasing an additional 70,056 shares in the last quarter. Finally, Nuveen LLC raised its position in Ategrity Specialty by 9.6% in the fourth quarter. Nuveen LLC now owns 704,961 shares of the company’s stock valued at $14,811,000 after purchasing an additional 61,725 shares during the last quarter.

Ategrity Specialty Stock Performance

Shares of ASIC opened at $24.52 on Wednesday. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of 13.19. Ategrity Specialty has a 52-week low of $16.35 and a 52-week high of $25.84. The firm has a 50 day simple moving average of $21.48.

Ategrity Specialty (NYSE:ASIC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.40 by $0.11. The company had revenue of $128.96 million during the quarter. Ategrity Specialty had a net margin of 19.75% and a return on equity of 15.29%. As a group, equities research analysts expect that Ategrity Specialty will post 1.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ASIC has been the topic of a number of recent research reports. Wells Fargo & Company lifted their price target on Ategrity Specialty from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Zacks Research downgraded Ategrity Specialty from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 19th. Wall Street Zen upgraded shares of Ategrity Specialty from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Ategrity Specialty from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 18th. Finally, Barclays boosted their target price on shares of Ategrity Specialty from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

About Ategrity Specialty

We are a profitable and growing specialty insurance company dedicated to providing excess and surplus (“E&S”) products to small to medium-sized businesses (“SMBs”) across the United States. We have built a proprietary underwriting platform that combines sophisticated data analytics with automated and streamlined processes to efficiently serve our clients and deliver long-term value to our stockholders. The SMB market is characterized by large volumes of small-sized policies, and we believe our competitive edge lies in our ability to offer consistent, high-speed, and low-touch interactions that our distribution partners value.