Atlas Financial (AFH) Rating Reiterated by Sandler O’Neill

Sandler O’Neill reissued their buy rating on shares of Atlas Financial (NASDAQ:AFH) in a report released on Wednesday. The brokerage currently has a $24.00 price target on the insurance provider’s stock.

Several other equities research analysts also recently commented on AFH. Zacks Investment Research downgraded Atlas Financial from a strong-buy rating to a hold rating in a report on Tuesday, October 10th. ValuEngine raised Atlas Financial from a sell rating to a hold rating in a report on Friday, September 22nd. Finally, Boenning Scattergood reissued a buy rating on shares of Atlas Financial in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Atlas Financial has a consensus rating of Buy and an average price target of $20.75.

Atlas Financial (NASDAQ AFH) remained flat at $$20.55 during midday trading on Wednesday. 20,632 shares of the company traded hands, compared to its average volume of 33,944. The company has a market cap of $247.24, a price-to-earnings ratio of 146.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Atlas Financial has a one year low of $12.15 and a one year high of $21.45.

In other Atlas Financial news, Director Bruce Wayne Giles sold 7,776 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $20.10, for a total transaction of $156,297.60. Following the transaction, the director now owns 79,018 shares in the company, valued at approximately $1,588,261.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott D. Wollney sold 12,443 shares of the stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $20.10, for a total value of $250,104.30. Following the transaction, the chief executive officer now owns 345,151 shares in the company, valued at approximately $6,937,535.10. The disclosure for this sale can be found here. Insiders have sold a total of 179,029 shares of company stock valued at $3,549,810 in the last ninety days. Insiders own 13.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Northpointe Capital LLC bought a new position in shares of Atlas Financial in the third quarter worth $2,899,000. Wasatch Advisors Inc. grew its position in Atlas Financial by 13.1% in the third quarter. Wasatch Advisors Inc. now owns 780,955 shares of the insurance provider’s stock valued at $14,760,000 after acquiring an additional 90,246 shares during the last quarter. Kennedy Capital Management Inc. grew its position in Atlas Financial by 164.8% in the second quarter. Kennedy Capital Management Inc. now owns 107,970 shares of the insurance provider’s stock valued at $1,609,000 after acquiring an additional 67,196 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Atlas Financial by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 268,143 shares of the insurance provider’s stock valued at $3,995,000 after acquiring an additional 64,629 shares during the last quarter. Finally, GMT Capital Corp bought a new position in Atlas Financial in the third quarter valued at about $902,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.

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About Atlas Financial

Atlas Financial Holdings Inc formerly JJR VI Acquisition Corp is a Canada-based company. It is engaged in the business of providing commercial automobile insurance in the United States with a niche market orientation. The Company’s automobile insurance products provide coverage in three areas: liability, accident benefits and physical damage.

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