American Coastal Insurance (NASDAQ:ACIC) Insider Brooke Adler Sells 21,196 Shares of Stock

American Coastal Insurance Corporation (NASDAQ:ACIC) insider Brooke Adler sold 21,196 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $9.06, for a total value of $192,035.76. Following the sale, the insider owned 100,175 shares of the company’s stock, valued at approximately $907,585.50. This trade represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

American Coastal Insurance Price Performance

ACIC stock traded up $0.33 during midday trading on Friday, reaching $9.40. The stock had a trading volume of 405,347 shares, compared to its average volume of 260,394. American Coastal Insurance Corporation has a 52-week low of $9.03 and a 52-week high of $13.06. The company has a market cap of $444.34 million, a price-to-earnings ratio of 4.68 and a beta of -0.46. The company’s fifty day simple moving average is $9.76 and its 200 day simple moving average is $10.61. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.01.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.09). American Coastal Insurance had a return on equity of 27.95% and a net margin of 30.31%.The business had revenue of $82.60 million during the quarter. As a group, sell-side analysts predict that American Coastal Insurance Corporation will post 0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ACIC shares. Raymond James Financial reiterated an “outperform” rating and set a $13.00 price target on shares of American Coastal Insurance in a report on Tuesday, August 11th. Zacks Research upgraded shares of American Coastal Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.00.

Institutional Investors Weigh In On American Coastal Insurance

Several large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in American Coastal Insurance in the 2nd quarter valued at approximately $173,000. Beacon Pointe Advisors LLC purchased a new position in shares of American Coastal Insurance in the 2nd quarter valued at about $754,000. Empowered Funds LLC purchased a new position in American Coastal Insurance in the second quarter worth approximately $2,992,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of American Coastal Insurance in the 2nd quarter valued at $8,977,000. Finally, Bank of America Corp DE acquired a new stake in shares of American Coastal Insurance in the 2nd quarter valued at $814,000. 22.11% of the stock is owned by hedge funds and other institutional investors.

About American Coastal Insurance

American Coastal Insurance Corporation (NASDAQ: ACIC) is a specialty property and casualty insurance holding company focused primarily on the commercial residential market. Through its insurance operations, the company provides coverage designed for properties such as condominium associations, apartment communities and other residential developments.

The company’s offerings generally center on commercial property insurance, including protection against damage from severe weather and other covered risks.