Conifer (NASDAQ:CNFR) Share Price Crosses Below Fifty Day Moving Average After Earnings Miss

Conifer Holdings, Inc. (NASDAQ:CNFR) crossed below its 50 day moving average during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock has a 50 day moving average of $0.81 and traded as low as $0.79. Conifer shares last traded at $0.82, with a volume of 14,526 shares changing hands.

The insurance provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.18). The company had revenue of $16.13 million during the quarter, compared to analyst estimates of $21.82 million. Conifer had a net margin of 48.57% and a negative return on equity of 123.82%.

Hedge Funds Weigh In On Conifer

An institutional investor recently bought a new position in Conifer stock. Citadel Advisors LLC purchased a new position in shares of Conifer Holdings, Inc. (NASDAQ:CNFR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 22,412 shares of the insurance provider’s stock, valued at approximately $26,000. Citadel Advisors LLC owned approximately 0.18% of Conifer as of its most recent SEC filing. 34.88% of the stock is owned by institutional investors.

Conifer Trading Down 2.9%

The business’s 50-day moving average price is $0.81 and its two-hundred day moving average price is $0.80. The company has a market capitalization of $10.01 million, a P/E ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.71 and a quick ratio of 0.72.

Conifer Company Profile

Conifer Holdings, Inc, an insurance holding company, engages in the sale of property and casualty insurance products. The company offers insurance coverage in specialty commercial and personal product lines. It also underwrites various specialty insurance products, including property, general liability, liquor liability, automobile, and homeowners and dwelling policies.