Patriot National Inc. (PN) Director Charles H. Walsh Buys 30,000 Shares
Patriot National Inc. (NYSE:PN) Director Charles H. Walsh bought 30,000 shares of Patriot National stock in a transaction dated Tuesday, November 15th. The stock was acquired at an average price of $6.22 per share, with a total value of $186,600.00. Following the completion of the transaction, the director now directly owns 100,894 shares of the company’s stock, valued at $627,560.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Patriot National Inc. (NYSE:PN) traded up 3.01% during midday trading on Thursday, reaching $6.17. 290,582 shares of the company traded hands. The firm has a market capitalization of $162.82 million, a PE ratio of 10.90 and a beta of 2.77. Patriot National Inc. has a 12 month low of $3.56 and a 12 month high of $15.04. The company’s 50-day moving average price is $7.48 and its 200 day moving average price is $8.13.
Patriot National (NYSE:PN) last issued its earnings results on Monday, November 14th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.27 by $0.15. The company had revenue of $60.20 million for the quarter, compared to analysts’ expectations of $70.19 million. Patriot National had a return on equity of 13.83% and a net margin of 5.81%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Patriot National Inc. will post $0.77 earnings per share for the current year.
The business also recently announced a special dividend, which will be paid on Friday, December 9th. Shareholders of record on Monday, November 28th will be given a dividend of $2.50 per share. The ex-dividend date is Monday, December 12th.
Several large investors have recently modified their holdings of PN. Oakworth Capital Inc. raised its stake in shares of 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. Cutler Group LP raised its stake in Patriot National by 13,700.0% in the third quarter. Cutler Group LP now owns 13,800 shares of the company’s stock valued at $124,000 after buying an additional 13,700 shares in the last quarter. 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 in 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 in the last quarter. Finally, 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 in the last quarter. Institutional investors own 23.15% of the company’s stock.
Several equities research analysts recently issued reports on PN shares. Compass Point upgraded shares of Patriot National from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, November 9th. Zacks Investment Research cut shares of Patriot National from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.00.
Patriot National Company Profile
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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