The stock of Atlas Financial Holdings Inc (NASDAQ:AFH) hit a new 52-week low and has $13.60 target or 12.00% below today’s $15.45 share price. The 5 months bearish chart indicates high risk for the $190.57M company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $13.60 price target is reached, the company will be worth $22.87 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 49,359 shares traded hands. Atlas Financial Holdings Inc (NASDAQ:AFH) has declined 12.62% since March 31, 2016 and is downtrending. It has underperformed by 15.15% the S&P500.
Analysts await Atlas Financial Holdings Inc (NASDAQ:AFH) to report earnings on November, 14. They expect $0.37 earnings per share, down 19.57% or $0.09 from last year’s $0.46 per share. AFH’s profit will be $4.58 million for 10.41 P/E if the $0.37 EPS becomes a reality. After $0.59 actual earnings per share reported by Atlas Financial Holdings Inc for the previous quarter, Wall Street now forecasts -37.29% negative EPS growth.
According to Zacks Investment Research, “Atlas Financial Holdings Inc. provides commercial automobile insurance policies primarily in the United States through its subsidiaries. The company provides insurance coverage to taxi cabs, non-emergency para-transit, limousine/livery and business auto. Atlas Financial Holdings Inc. is based in United States.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.09, from 1.09 in 2016Q1. The ratio fall, as 15 funds sold all Atlas Financial Holdings Inc shares owned while 18 reduced positions. 7 funds bought stakes while 26 increased positions. They now own 7.57 million shares or 8.74% less from 8.30 million shares in 2016Q1.
Nationwide Fund Advsrs holds 6,901 shares or 0% of its portfolio. Citigroup Inc reported 6,242 shares or 0% of all its holdings. Emerald Advisers Pa accumulated 270,292 shares or 0.22% of the stock. The Massachusetts-based State Street Corp has invested 0% in Atlas Financial Holdings Inc (NASDAQ:AFH). Mount Lucas Lp last reported 0.02% of its portfolio in the stock. Rhumbline Advisers accumulated 0% or 13,317 shares. Vanguard Grp Inc owns 316,147 shares or 0% of their US portfolio. California Public Employees Retirement Sys has invested 0% of its portfolio in Atlas Financial Holdings Inc (NASDAQ:AFH). Ranger Invest Mngmt Limited Partnership holds 0.03% or 23,820 shares in its portfolio. Buckhead Management Limited Liability Com, a Georgia-based fund reported 26,755 shares. Moreover, Springbok Capital Management Limited Liability has 0.02% invested in Atlas Financial Holdings Inc (NASDAQ:AFH) for 7,765 shares. Davenport & Ltd Co holds 0% of its portfolio in Atlas Financial Holdings Inc (NASDAQ:AFH) for 12,600 shares. Blackrock has 1,316 shares for 0% of their US portfolio. Moreover, Northern has 0% invested in Atlas Financial Holdings Inc (NASDAQ:AFH) for 110,098 shares. Tiaa Cref Inv Mngmt Ltd Liability last reported 35,894 shares in the company.
Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 1 sale for $84,304 net activity. Shares for $84,304 were sold by KINGSWAY AMERICA INC on Tuesday, May 31.
More notable recent Atlas Financial Holdings Inc (NASDAQ:AFH) news were published by: Businesswire.com which released: “Atlas Financial Holdings Announces 2016 Third Quarter Financial Results” on October 31, 2016, also Businesswire.com with their article: “Atlas Financial Holdings Schedules 2016 Third Quarter Financial Results and …” published on October 12, 2016, Seekingalpha.com published: “Atlas Financial Holdings, Inc.: A New Titan In A Niche Insurance Market?” on August 11, 2016. More interesting news about Atlas Financial Holdings Inc (NASDAQ:AFH) were released by: Businesswire.com and their article: “Atlas Financial Holdings Announces 2016 First Quarter Financial Results” published on May 09, 2016 as well as Seekingalpha.com‘s news article titled: “Atlas Financial Holdings’ (AFH) CEO Scott Wollney on Q2 2016 Results …” with publication date: August 02, 2016.
AFH Company Profile
Atlas Financial Holdings, Inc., incorporated on December 31, 2010, is a financial services holding company. The Company, through its subsidiaries, is engaged in the underwriting of commercial automobile insurance policies, focusing on the light commercial automobile sector. The Firm operates through the property and casualty (P&C) insurance business segment. The Company’s automobile sector includes taxi cabs, non-emergency para-transit, limousine, livery and business auto. The Company’s automobile insurance products provide insurance coverage in over three areas, including liability, accident benefits and physical damage. The Company’s liability insurance provides coverage subject to policy terms and conditions where the insured is determined to be responsible and/or liable for an automobile accident, for the payment for injuries and property damage to third parties. The accident benefit policies or personal injury protection policies provide coverage for loss of income, medical and rehabilitation expenses for insured persons injured in an automobile accident, regardless of fault. The physical damage coverage subject to policy terms and conditions provides for the payment of damages to an insured automobile arising from a collision with another object or from other risks, such as fire or theft.
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