Zacks Investment Research upgraded shares of Patriot National Inc (NYSE:PN) from a strong sell rating to a hold rating in a research note published on Wednesday, May 17th.

According to Zacks, “Patriot National Inc is a provider of comprehensive outsourcing solutions within the workers’ compensation marketplace for insurance companies, employers, local governments and reinsurance captives. It provides general agency services, specialty underwriting and policyholder services and claims administration services to its insurance carrier clients and other clients. Patriot National Inc. is headquartered in Fort Lauderdale, Florida. “

PN has been the subject of several other reports. Compass Point upgraded Patriot National from a neutral rating to a buy rating and set a $6.50 price target for the company in a report on Thursday, February 23rd. JMP Securities reduced their price target on Patriot National from $10.00 to $9.00 and set an outperform rating for the company in a report on Monday, January 23rd.

Shares of Patriot National (NYSE:PN) traded down 1.80% on Wednesday, hitting $2.73. 62,128 shares of the stock traded hands. The stock’s market cap is $85.48 million. Patriot National has a one year low of $2.00 and a one year high of $9.95. The company’s 50 day moving average is $2.65 and its 200 day moving average is $4.12.

Patriot National (NYSE:PN) last released its earnings results on Tuesday, March 14th. The financial services provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.18. Patriot National had a net margin of 5.81% and a return on equity of 13.44%. The business had revenue of $51.50 million for the quarter, compared to analysts’ expectations of $64.77 million. The firm’s revenue was down 15.4% on a year-over-year basis. On average, equities analysts forecast that Patriot National will post $0.13 EPS for the current year.

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Large investors have recently bought and sold shares of the company. Marshall Wace LLP raised its stake in Patriot National by 0.5% in the fourth quarter. Marshall Wace LLP now owns 33,551 shares of the financial services provider’s stock valued at $156,000 after buying an additional 162 shares during the period. Geode Capital Management LLC raised its stake in Patriot National by 7.8% in the first quarter. Geode Capital Management LLC now owns 67,892 shares of the financial services provider’s stock valued at $191,000 after buying an additional 4,937 shares during the period. OMERS ADMINISTRATION Corp raised its position in shares of Patriot National by 17.2% in the third quarter. OMERS ADMINISTRATION Corp now owns 47,800 shares of the financial services provider’s stock worth $431,000 after buying an additional 7,000 shares during the period. State Street Corp raised its position in shares of Patriot National by 6.4% in the fourth quarter. State Street Corp now owns 117,190 shares of the financial services provider’s stock worth $544,000 after buying an additional 7,099 shares during the period. Finally, Teachers Advisors LLC raised its position in shares of Patriot National by 104.9% in the fourth quarter. Teachers Advisors LLC now owns 34,383 shares of the financial services provider’s stock worth $160,000 after buying an additional 17,600 shares during the period. Hedge funds and other institutional investors own 20.40% of the company’s stock.

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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