Conifer (CNFR) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of Conifer (NASDAQ:CNFR) from a sell rating to a hold rating in a research note published on Saturday morning.

CNFR has been the topic of a number of other reports. Zacks Investment Research cut Conifer from a buy rating to a hold rating in a research note on Tuesday, July 17th. Raymond James reaffirmed a buy rating on shares of Conifer in a research note on Monday, August 13th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $6.42.

Shares of NASDAQ:CNFR opened at $5.85 on Friday. Conifer has a 12-month low of $5.00 and a 12-month high of $7.20. The stock has a market cap of $51.12 million, a PE ratio of -2.02 and a beta of 1.06. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.58.

Conifer (NASDAQ:CNFR) last announced its quarterly earnings data on Wednesday, August 8th. The insurance provider reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.06). Conifer had a negative net margin of 20.48% and a negative return on equity of 33.42%. The company had revenue of $25.27 million for the quarter, compared to the consensus estimate of $23.33 million. analysts anticipate that Conifer will post 0.43 EPS for the current year.

In related news, President Brian J. Roney acquired 10,000 shares of Conifer stock in a transaction dated Tuesday, September 11th. The shares were purchased at an average cost of $6.07 per share, with a total value of $60,700.00. Following the completion of the purchase, the president now owns 313,602 shares of the company’s stock, valued at $1,903,564.14. The transaction was disclosed in a document filed with the SEC, which is available through this link. 52.50% of the stock is currently owned by company insiders.

An institutional investor recently raised its position in Conifer stock. Aegis Financial Corp grew its stake in shares of Conifer Holdings Inc (NASDAQ:CNFR) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750,793 shares of the insurance provider’s stock after buying an additional 13,415 shares during the quarter. Conifer accounts for approximately 6.7% of Aegis Financial Corp’s portfolio, making the stock its 6th largest holding. Aegis Financial Corp owned about 8.81% of Conifer worth $4,392,000 as of its most recent SEC filing. Institutional investors and hedge funds own 26.20% of the company’s stock.

Conifer Company Profile

Conifer Holdings, Inc, an insurance holding company, offers insurance coverage in specialty commercial and personal product lines. The company underwrites various specialty insurance products, including property, general liability, commercial multi-peril, liquor liability, and automobile policies. It serves the commercial insurance needs of owner-operated businesses in the markets, such as hospitality, which includes restaurants, bars, taverns, and bowling centers, as well as small grocery and convenience stores; artisan contractors comprising plumbers, painters, carpenters, electricians, and other independent contractors; and security service providers, such as companies that provide security guard services, security alarm products and services, and private investigative services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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