StockNews.com Begins Coverage on Hallmark Financial Services (NASDAQ:HALL)

StockNews.com initiated coverage on shares of Hallmark Financial Services (NASDAQ:HALL) in a report published on Tuesday. The firm issued a hold rating on the insurance provider’s stock.

Hallmark Financial Services Stock Performance

Shares of HALL stock opened at $0.74 on Tuesday. The firm has a market cap of $1.55 million, a price-to-earnings ratio of -0.02 and a beta of 1.16. Hallmark Financial Services has a 52 week low of $0.57 and a 52 week high of $6.92. The firm’s 50-day simple moving average is $0.81 and its two-hundred day simple moving average is $1.27.

Hedge Funds Weigh In On Hallmark Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Hallmark Financial Services during the 1st quarter valued at $48,000. Renaissance Technologies LLC lifted its holdings in Hallmark Financial Services by 20.5% during the first quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock valued at $449,000 after purchasing an additional 21,023 shares during the last quarter. Virtu Financial LLC bought a new position in Hallmark Financial Services during the first quarter worth about $95,000. Point72 Asset Management L.P. purchased a new position in shares of Hallmark Financial Services in the second quarter worth about $31,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Hallmark Financial Services in the first quarter worth about $292,000. 5.62% of the stock is owned by institutional investors.

About Hallmark Financial Services

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Runoff. The Commercial Lines segment offers commercial property/casualty insurance products, including general liability, commercial automobile, commercial property, umbrella, commercial multi-peril, and business owners' insurance products, as well as aircraft and aircraft liability products.