Brokerages Set Patriot National Inc. (NYSE:PN) Target Price at $7.50
Patriot National Inc. (NYSE:PN) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $7.50.
Separately, Zacks Investment Research downgraded Patriot National from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 18th.
In other Patriot National news, insider Paul Halter sold 2,794 shares of the stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $9.09, for a total transaction of $25,397.46. Following the sale, the insider now directly owns 38,530 shares of the company’s stock, valued at approximately $350,237.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 59.90% of the company’s stock.
Large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd raised its stake in Patriot National by 6.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 15,593 shares of the company’s stock valued at $128,000 after buying an additional 993 shares during the last quarter. Oakworth Capital Inc. raised its stake in Patriot National by 100.0% in the second quarter. Oakworth Capital Inc. now owns 16,000 shares of the company’s stock valued at $121,000 after buying an additional 8,000 shares during the last quarter. Teachers Advisors Inc. raised its stake in Patriot National by 37.4% in the second quarter. Teachers Advisors Inc. now owns 16,783 shares of the company’s stock valued at $137,000 after buying an additional 4,566 shares during the last quarter. California State Teachers Retirement System raised its stake in Patriot National by 25.4% in the second quarter. California State Teachers Retirement System now owns 22,807 shares of the company’s stock valued at $187,000 after buying an additional 4,624 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its stake in Patriot National by 15.6% in the second quarter. BlackRock Investment Management LLC now owns 37,593 shares of the company’s stock valued at $308,000 after buying an additional 5,072 shares during the last quarter. 21.95% of the stock is currently owned by institutional investors.
Patriot National (NYSE:PN) opened at 9.01 on Friday. The stock has a market capitalization of $237.76 million, a P/E ratio of 15.92 and a beta of 2.54. Patriot National has a 12 month low of $3.56 and a 12 month high of $16.15. The stock has a 50 day moving average price of $9.09 and a 200 day moving average price of $8.29.
Patriot National (NYSE:PN) last released its earnings results on Monday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.10. Patriot National had a net margin of 6.65% and a return on equity of 17.07%. The firm earned $56.50 million during the quarter, compared to analyst estimates of $64.76 million. Equities analysts predict that Patriot National will post $0.84 EPS for the current fiscal year.
About Patriot National
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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