Short Interest in Hallmark Financial Services, Inc. (NASDAQ:HALL) Increases By 58.9%

Hallmark Financial Services, Inc. (NASDAQ:HALL – Get Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 109,000 shares, an increase of 58.9% from the April 15th total of 68,600 shares. Based on an average daily volume of 47,900 shares, the short-interest ratio is presently 2.3 days. Currently, 0.8% of the shares of the company are sold short.

Several brokerages have recently issued reports on HALL. Zacks Investment Research lowered shares of Hallmark Financial Services from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 24th. StockNews.com initiated coverage on shares of Hallmark Financial Services in a report on Friday. They issued a “hold” rating for the company.

NASDAQ:HALL traded down $0.26 during trading hours on Friday, hitting $2.91. The stock had a trading volume of 102,642 shares, compared to its average volume of 34,014. The company has a 50 day simple moving average of $3.55 and a two-hundred day simple moving average of $3.93. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.60. Hallmark Financial Services has a one year low of $2.67 and a one year high of $5.70.

Hallmark Financial Services (NASDAQ:HALL – Get Rating) last issued its earnings results on Wednesday, March 16th. The insurance provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.15). Hallmark Financial Services had a negative return on equity of 3.58% and a negative net margin of 0.74%. Analysts anticipate that Hallmark Financial Services will post 0.3 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its position in Hallmark Financial Services by 20.5% in the 1st quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock worth $449,000 after purchasing an additional 21,023 shares during the period. Acadian Asset Management LLC purchased a new position in Hallmark Financial Services in the 1st quarter worth $48,000. BlackRock Inc. increased its position in shares of Hallmark Financial Services by 2.1% in the fourth quarter. BlackRock Inc. now owns 265,433 shares of the insurance provider’s stock valued at $1,155,000 after acquiring an additional 5,470 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Hallmark Financial Services in the fourth quarter valued at about $77,000. Finally, Northern Trust Corp increased its position in shares of Hallmark Financial Services by 15.3% in the fourth quarter. Northern Trust Corp now owns 45,093 shares of the insurance provider’s stock valued at $196,000 after acquiring an additional 5,976 shares during the period. Institutional investors own 19.12% of the company’s stock.

About Hallmark Financial Services (Get Rating)

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates through Specialty Commercial, Standard Commercial, and Personal segments. The Specialty Commercial segment offers primary and excess commercial vehicle insurance products and services; primary and excess liability, excess public entity liability, and E&S package and garage liability insurance products and services; primary and excess commercial property insurance for catastrophe and non-catastrophe exposures; healthcare and financial lines professional liability insurance products and services primarily for businesses, medical professionals, medical facilities, and senior care facilities; and satellite launch property/casualty insurance products and services, as well as various specialty programs.

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