United Insurance (NASDAQ:UIHC) Stock Price Crosses Below 200 Day Moving Average of $3.24

United Insurance Holdings Corp. (NASDAQ:UIHCGet Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.24 and traded as low as $1.63. United Insurance shares last traded at $1.71, with a volume of 6,890 shares traded.

Separately, StockNews.com assumed coverage on United Insurance in a research note on Thursday, March 31st. They set a “hold” rating on the stock.

The stock has a fifty day moving average of $2.10 and a 200-day moving average of $3.24. The company has a market cap of $74.08 million, a PE ratio of -1.01 and a beta of 0.86.

United Insurance (NASDAQ:UIHCGet Rating) last issued its earnings results on Monday, May 9th. The insurance provider reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.58). The firm had revenue of $106.40 million for the quarter, compared to the consensus estimate of $136.52 million. United Insurance had a negative net margin of 12.75% and a negative return on equity of 21.51%. During the same period last year, the firm earned ($0.45) earnings per share. As a group, equities analysts predict that United Insurance Holdings Corp. will post -1.65 EPS for the current fiscal year.

In other news, Director Kent G. Whittemore purchased 25,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $1.46 per share, for a total transaction of $36,500.00. Following the purchase, the director now owns 334,267 shares in the company, valued at $488,029.82. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 55.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of UIHC. Morgan Stanley boosted its position in United Insurance by 57.1% during the second quarter. Morgan Stanley now owns 114,532 shares of the insurance provider’s stock worth $653,000 after purchasing an additional 41,612 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of United Insurance in the third quarter valued at approximately $604,000. Hsbc Holdings PLC increased its holdings in shares of United Insurance by 14.5% in the third quarter. Hsbc Holdings PLC now owns 39,051 shares of the insurance provider’s stock valued at $140,000 after purchasing an additional 4,944 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of United Insurance in the third quarter valued at approximately $444,000. Finally, Eaton Vance Management grew its position in United Insurance by 15.2% in the third quarter. Eaton Vance Management now owns 39,041 shares of the insurance provider’s stock worth $109,000 after acquiring an additional 5,144 shares during the period. Institutional investors own 24.07% of the company’s stock.

United Insurance Company Profile (NASDAQ:UIHC)

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.

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