American Coastal Insurance (NASDAQ:ACIC) Stock Price Crosses Below 200-Day Moving Average – What’s Next?

American Coastal Insurance Corporation (NASDAQ:ACIC)’s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $10.67 and traded as low as $10.51. American Coastal Insurance shares last traded at $10.54, with a volume of 296,730 shares.

Analyst Ratings Changes

Several research analysts recently weighed in on ACIC shares. Zacks Research raised shares of American Coastal Insurance from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Weiss Ratings cut American Coastal Insurance from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, August 12th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $13.00 price objective on shares of American Coastal Insurance in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, American Coastal Insurance currently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

American Coastal Insurance Stock Down 3.3%

The company has a debt-to-equity ratio of 0.01, a current ratio of 0.91 and a quick ratio of 0.88. The business’s 50 day simple moving average is $9.88 and its 200 day simple moving average is $10.67. The company has a market capitalization of $498.23 million, a PE ratio of 5.99 and a beta of -0.55.

American Coastal Insurance (NASDAQ:ACIC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). American Coastal Insurance had a return on equity of 24.36% and a net margin of 28.02%. The business had revenue of $70.70 million for the quarter. As a group, analysts anticipate that American Coastal Insurance Corporation will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at American Coastal Insurance

In related news, insider Brooke Adler sold 21,196 shares of the company’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $9.06, for a total transaction of $192,035.76. Following the sale, the insider directly owned 100,175 shares in the company, valued at approximately $907,585.50. This represents a 17.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bennett Bradford Martz acquired 10,000 shares of American Coastal Insurance stock in a transaction dated Tuesday, September 22nd. The stock was purchased at an average price of $9.15 per share, for a total transaction of $91,500.00. Following the completion of the acquisition, the chief executive officer directly owned 444,611 shares in the company, valued at approximately $4,068,190.65. This represents a 2.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 49.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in American Coastal Insurance during the 2nd quarter worth approximately $25,309,000. Tieton Capital Management LLC purchased a new position in shares of American Coastal Insurance in the 2nd quarter valued at approximately $13,929,000. Empyrean Capital Partners LP increased its holdings in shares of American Coastal Insurance by 19.8% in the first quarter. Empyrean Capital Partners LP now owns 1,126,987 shares of the company’s stock valued at $12,679,000 after purchasing an additional 186,487 shares during the period. Punch & Associates Investment Management Inc. increased its holdings in shares of American Coastal Insurance by 4.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 808,705 shares of the company’s stock valued at $9,098,000 after purchasing an additional 32,305 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of American Coastal Insurance by 19.6% during the first quarter. Dimensional Fund Advisors LP now owns 750,108 shares of the company’s stock worth $8,439,000 after purchasing an additional 122,778 shares during the last quarter. 22.11% of the stock is currently owned by institutional investors and hedge funds.

About American Coastal Insurance

American Coastal Insurance Corporation is a property and casualty insurance holding company based in Florida. Through its insurance subsidiaries, the company provides coverage for catastrophe-exposed residential properties, with a particular emphasis on commercial residential insurance such as condominium and homeowners’ association properties.

The company’s principal operating subsidiary is American Coastal Insurance Company, which focuses on property insurance in Florida and other coastal markets where specialized underwriting and catastrophe-risk management are important.