American Coastal Insurance Sees Unusually Large Options Volume (NASDAQ:ACIC)

American Coastal Insurance Corporation (NASDAQ:ACIC) saw some unusual options trading activity on Monday. Traders purchased 5,524 call options on the company. This represents an increase of 13,052% compared to the typical volume of 42 call options.

American Coastal Insurance Price Performance

ACIC traded down $0.29 during trading on Monday, hitting $9.56. The company’s stock had a trading volume of 111,642 shares, compared to its average volume of 257,925. 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 has a twelve month low of $9.45 and a twelve month high of $13.06. The business’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $10.99. The firm has a market capitalization of $452.14 million, a price-to-earnings ratio of 4.76 and a beta of -0.47.

American Coastal Insurance (NASDAQ:ACIC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). American Coastal Insurance had a net margin of 30.31% and a return on equity of 27.95%. The business had revenue of $82.60 million during the quarter. On average, equities research analysts forecast that American Coastal Insurance will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ACIC shares. Raymond James Financial reaffirmed an “outperform” rating and set a $13.00 price target on shares of American Coastal Insurance in a research report on Tuesday, August 11th. Wall Street Zen cut American Coastal Insurance from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised American Coastal Insurance from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Weiss Ratings lowered American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, American Coastal Insurance has a consensus rating of “Hold” and an average target price of $13.00.

Hedge Funds Weigh In On American Coastal Insurance

A number of large investors have recently added to or reduced their stakes in ACIC. BlackRock Inc. acquired a new stake in shares of American Coastal Insurance in the second quarter valued at about $25,309,000. Tieton Capital Management LLC purchased a new stake in American Coastal Insurance during the 2nd quarter worth approximately $13,929,000. Empyrean Capital Partners LP lifted its position in shares of American Coastal Insurance by 19.8% in the first quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company’s stock valued at $12,679,000 after acquiring an additional 186,487 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in shares of American Coastal Insurance by 4.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 808,705 shares of the company’s stock worth $9,098,000 after acquiring an additional 32,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of American Coastal Insurance by 19.6% in the first quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company’s stock worth $8,439,000 after acquiring an additional 122,778 shares during the last quarter. 22.11% of the stock is currently owned by institutional investors and hedge funds.

About American Coastal Insurance

American Coastal Insurance Company (NASDAQ:ACIC) is a specialized property and casualty insurer focused on coastal residential and commercial lines across the Southeastern United States. Headquartered in St. Petersburg, Florida, the company underwrites policies designed to address windstorm and non-windstorm perils in areas exposed to hurricane risk. Since its founding in 2007, American Coastal has positioned itself to meet the insurance needs of homeowners, condominium associations, and small business owners operating near coastal zones.

Through a diversified portfolio of personal lines products, American Coastal offers homeowners insurance, dwelling fire, mobile home, condominium unitowners and renters policies.