BidaskClub cut shares of PICO Holdings Inc. (NASDAQ:PICO) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

Shares of PICO Holdings (PICO) opened at 16.15 on Friday. PICO Holdings has a 12-month low of $10.14 and a 12-month high of $17.95. The stock has a 50 day moving average of $16.67 and a 200 day moving average of $15.77. The company’s market cap is $373.66 million.

PICO Holdings (NASDAQ:PICO) last released its quarterly earnings results on Wednesday, August 9th. The financial services provider reported $0.06 earnings per share for the quarter. PICO Holdings had a negative return on equity of 0.68% and a negative net margin of 2.23%. The firm had revenue of $8.63 million for the quarter. On average, equities analysts expect that PICO Holdings will post ($1.45) earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in PICO Holdings by 8.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,295,327 shares of the financial services provider’s stock valued at $22,668,000 after buying an additional 106,272 shares during the last quarter. Vanguard Group Inc. raised its position in shares of PICO Holdings by 5.6% in the first quarter. Vanguard Group Inc. now owns 938,775 shares of the financial services provider’s stock valued at $13,143,000 after buying an additional 49,743 shares during the period. State Street Corp raised its position in shares of PICO Holdings by 8.3% in the second quarter. State Street Corp now owns 450,994 shares of the financial services provider’s stock valued at $7,896,000 after buying an additional 34,399 shares during the period. Royce & Associates LP raised its position in shares of PICO Holdings by 2.3% in the second quarter. Royce & Associates LP now owns 1,409,489 shares of the financial services provider’s stock valued at $24,666,000 after buying an additional 32,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of PICO Holdings during the first quarter valued at approximately $319,000. 71.14% of the stock is currently owned by hedge funds and other institutional investors.

PICO Holdings Company Profile

PICO Holdings, Inc (PICO) is a holding company. The Company’s segments include Water Resource and Water Storage Operations; Real Estate Operations, and Corporate. Its subsidiary, Vidler Water Company, Inc (Vidler), owns water resources and water storage operations in the southwestern United States, with assets and operations in Nevada, Arizona, Colorado and New Mexico.

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