Short Interest in FedNat Holding (NASDAQ:FNHC) Declines By 25.2%

FedNat Holding (NASDAQ:FNHC – Get Rating) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 101,000 shares, a decline of 25.2% from the March 15th total of 135,100 shares. Based on an average daily volume of 77,000 shares, the short-interest ratio is currently 1.3 days. Currently, 0.7% of the shares of the company are short sold.

Shares of FedNat stock traded down $0.10 on Monday, hitting $1.01. The stock had a trading volume of 3,240 shares, compared to its average volume of 77,383. FedNat has a 52-week low of $1.00 and a 52-week high of $5.33. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.67. The firm has a market cap of $17.62 million, a PE ratio of -0.18 and a beta of 0.90. The business has a 50 day moving average price of $1.27.

FedNat (NASDAQ:FNHC – Get Rating) last posted its earnings results on Thursday, March 3rd. The insurance provider reported ($0.42) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.31) by $0.89. FedNat had a negative return on equity of 97.80% and a negative net margin of 41.99%. The business had revenue of $66.97 million during the quarter, compared to the consensus estimate of $82.60 million. During the same period in the previous year, the business earned ($1.96) EPS. As a group, research analysts predict that FedNat will post -0.3 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Veritable L.P. purchased a new stake in FedNat during the 3rd quarter valued at approximately $74,000. Millennium Management LLC purchased a new stake in FedNat during the 2nd quarter valued at approximately $640,000. Susquehanna International Group LLP raised its stake in FedNat by 246.7% during the 4th quarter. Susquehanna International Group LLP now owns 45,461 shares of the insurance provider’s stock valued at $64,000 after acquiring an additional 76,443 shares during the last quarter. Raymond James & Associates purchased a new stake in FedNat during the 4th quarter valued at approximately $30,000. Finally, Assenagon Asset Management S.A. raised its stake in FedNat by 63.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 44,822 shares of the insurance provider’s stock valued at $63,000 after acquiring an additional 17,478 shares during the last quarter. 41.22% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on FedNat in a report on Monday, April 11th. They issued a “sell” rating for the company. Zacks Investment Research raised FedNat from a “sell” rating to a “hold” rating in a report on Tuesday, January 11th.

FedNat Company Profile (Get Rating)

FedNat Holding Company, together with its subsidiaries, engages in the insurance underwriting, distribution, and claims processing business in Florida, Louisiana, Texas, Georgia, South Carolina, Alabama, and Mississippi. The company is involved in the homeowners and casualty insurance; and personal automobile insurance businesses, as well as commercial general liability and federal flood businesses.

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