Patriot National Inc. (NYSE:PN) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.50.
Separately, Zacks Investment Research cut shares of Patriot National from a “hold” rating to a “strong sell” rating in a report on Thursday, August 18th.
In other Patriot National news, insider Paul Halter sold 2,794 shares of the stock in a transaction on Friday, September 16th. The shares were sold at an average price of $9.09, for a total transaction of $25,397.46. Following the sale, the insider now directly owns 38,530 shares of the company’s stock, valued at $350,237.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 59.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Patriot National by 5.7% in the second quarter. Vanguard Group Inc. now owns 375,516 shares of the company’s stock worth $3,072,000 after buying an additional 20,287 shares during the period. BlackRock Fund Advisors boosted its stake in Patriot National by 31.9% in the second quarter. BlackRock Fund Advisors now owns 283,493 shares of the company’s stock worth $2,319,000 after buying an additional 68,484 shares during the period. A.R.T. Advisors LLC boosted its stake in Patriot National by 229.0% in the first quarter. A.R.T. Advisors LLC now owns 142,366 shares of the company’s stock worth $1,096,000 after buying an additional 99,100 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Patriot National by 12.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 127,601 shares of the company’s stock worth $1,044,000 after buying an additional 14,277 shares during the period. Finally, State Street Corp boosted its stake in Patriot National by 20.2% in the second quarter. State Street Corp now owns 108,410 shares of the company’s stock worth $884,000 after buying an additional 18,231 shares during the period. 21.95% of the stock is currently owned by institutional investors.
Shares of Patriot National (NYSE:PN) opened at 8.93 on Friday. Patriot National has a 12-month low of $3.56 and a 12-month high of $15.04. The company’s 50-day moving average is $9.05 and its 200-day moving average is $8.35. The stock has a market cap of $235.65 million, a P/E ratio of 15.78 and a beta of 2.53.
Patriot National (NYSE:PN) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.10. The company earned $56.50 million during the quarter, compared to analyst estimates of $64.76 million. Patriot National had a net margin of 6.65% and a return on equity of 17.07%. On average, analysts expect that Patriot National will post $0.84 earnings per share for the current fiscal year.
About Patriot National
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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