Patriot National Inc. (PN) Lifted to “Buy” at Compass Point
Separately, Zacks Investment Research lowered shares of Patriot National from a hold rating to a strong sell rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $10.00.
Patriot National (NYSE:PN) opened at 6.84 on Wednesday. The company has a 50-day moving average of $7.72 and a 200 day moving average of $8.18. Patriot National has a 1-year low of $3.56 and a 1-year high of $15.04. The stock has a market cap of $180.50 million, a P/E ratio of 12.08 and a beta of 2.77.
Patriot National (NYSE:PN) last released its earnings results on Monday, November 14th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.15. Patriot National had a return on equity of 17.07% and a net margin of 6.65%. The business had revenue of $60.20 million for the quarter, compared to analysts’ expectations of $70.19 million. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Patriot National will post $0.86 EPS for the current year.
In other Patriot National news, insider Paul Halter sold 2,794 shares of the company’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $9.09, for a total value of $25,397.46. Following the transaction, the insider now owns 38,530 shares of the company’s stock, valued at $350,237.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 59.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. bought a new position in Patriot National during the third quarter worth approximately $1,075,000. A.R.T. Advisors LLC boosted its position in Patriot National by 229.0% in the first quarter. A.R.T. Advisors LLC now owns 142,366 shares of the company’s stock worth $1,096,000 after buying an additional 99,100 shares during the last quarter. GSA Capital Partners LLP boosted its position in Patriot National by 612.5% in the second quarter. GSA Capital Partners LLP now owns 83,000 shares of the company’s stock worth $679,000 after buying an additional 71,351 shares during the last quarter. New Jersey Better Educational Savings Trust bought a new position in Patriot National during the third quarter worth approximately $631,000. Finally, BlackRock Fund Advisors boosted its position in Patriot National by 31.9% in the second quarter. BlackRock Fund Advisors now owns 283,493 shares of the company’s stock worth $2,319,000 after buying an additional 68,484 shares during the last quarter. 23.15% of the stock is currently owned by institutional investors.
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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