1,254,880 Shares in American Coastal Insurance Corporation $ACIC Purchased by Tieton Capital Management LLC

Tieton Capital Management LLC purchased a new stake in shares of American Coastal Insurance Corporation (NASDAQ:ACIC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,254,880 shares of the company’s stock, valued at approximately $13,929,000. American Coastal Insurance comprises 4.0% of Tieton Capital Management LLC’s portfolio, making the stock its 7th largest position.

Other large investors have also recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of American Coastal Insurance by 290.7% during the 1st quarter. Royal Bank of Canada now owns 2,270 shares of the company’s stock worth $25,000 after acquiring an additional 1,689 shares during the period. Russell Investments Group Ltd. increased its stake in 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 valued at $30,000 after acquiring an additional 2,615 shares during the period. Tower Research Capital LLC TRC raised its position in 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 in the last quarter. State of Wyoming acquired a new position in American Coastal Insurance in the second quarter worth about $59,000. Finally, State of Alaska Department of Revenue lifted its stake in American Coastal Insurance by 148.5% during the fourth quarter. State of Alaska Department of Revenue now owns 5,168 shares of the company’s stock worth $65,000 after purchasing an additional 3,088 shares during the period. 22.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ACIC has been the subject of several analyst reports. Weiss Ratings downgraded American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Zacks Research upgraded American Coastal Insurance from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Raymond James Financial reissued an “outperform” rating and set a $13.00 price objective on shares of American Coastal Insurance in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded shares of American Coastal Insurance from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

American Coastal Insurance Stock Down 0.6%

ACIC stock opened at $9.45 on Thursday. American Coastal Insurance Corporation has a 52 week low of $9.33 and a 52 week high of $13.06. The business has a 50-day simple moving average of $10.59 and a 200 day simple moving average of $10.96. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.01. The company has a market cap of $446.70 million, a PE ratio of 4.70 and a beta of -0.47.

American Coastal Insurance (NASDAQ:ACIC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.09). The firm had revenue of $82.60 million for the quarter. American Coastal Insurance had a return on equity of 27.95% and a net margin of 30.31%. Sell-side analysts anticipate that American Coastal Insurance Corporation will post 0.98 EPS for the current fiscal year.

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.