PICO (NASDAQ:PICO) Raised to “Hold” at BidaskClub

PICO (NASDAQ:PICO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, April 10th.

Separately, TheStreet lowered shares of PICO from a “c” rating to a “d” rating in a report on Friday, December 22nd.

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Shares of PICO stock traded up $0.47 during trading hours on Tuesday, hitting $12.47. The company’s stock had a trading volume of 110,113 shares, compared to its average volume of 117,390. PICO has a 1-year low of $10.60 and a 1-year high of $20.20. The firm has a market capitalization of $267.41, a P/E ratio of 36.09 and a beta of 1.24.

PICO (NASDAQ:PICO) last released its quarterly earnings results on Thursday, March 1st. The financial services provider reported ($0.08) earnings per share for the quarter. The firm had revenue of $1.24 million for the quarter. PICO had a net margin of 1.28% and a return on equity of 1.75%.

In other news, Director Dorothy Ann Timian-Palmer acquired 4,835 shares of the business’s stock in a transaction that occurred on Wednesday, April 11th. The shares were purchased at an average cost of $11.70 per share, for a total transaction of $56,569.50. Following the transaction, the director now directly owns 200 shares in the company, valued at approximately $2,340. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Stone Ridge Asset Management LLC bought a new stake in shares of PICO during the 4th quarter worth about $359,000. Clarus Wealth Advisors bought a new stake in shares of PICO during the 4th quarter worth about $208,000. River Road Asset Management LLC grew its stake in shares of PICO by 3.7% in the 4th quarter. River Road Asset Management LLC now owns 1,418,786 shares of the financial services provider’s stock worth $18,160,000 after purchasing an additional 50,660 shares during the last quarter. Kestrel Investment Management Corp acquired a new position in shares of PICO in the 4th quarter worth approximately $2,013,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in shares of PICO in the 4th quarter worth approximately $27,714,000. Institutional investors own 70.87% of the company’s stock.

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PICO Company Profile

PICO Holdings, Inc engages in the water resource and water storage activities in the southwestern United States. It engages in selling its water rights and storage credits in Arizona, Colorado, Nevada, and New Mexico. The Company sells its water rights to real estate developers, power generating facilities, or other commercial and industrial users, as well as to water utilities, municipalities, and other government agencies; and sells its stored water to state agencies, commercial developers, or municipalities for their commercial projects or communities.

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