Protective Insurance Corp (NASDAQ:PTVCB) Sees Significant Growth in Short Interest

Protective Insurance Corp (NASDAQ:PTVCB) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 75,500 shares, an increase of 9.4% from the May 30th total of 69,000 shares. Based on an average daily volume of 27,700 shares, the short-interest ratio is presently 2.7 days. Approximately 0.9% of the shares of the stock are short sold.

Shares of NASDAQ:PTVCB opened at $17.38 on Tuesday. The firm has a fifty day moving average price of $17.45. Protective Insurance has a one year low of $15.81 and a one year high of $25.00.

Protective Insurance (NASDAQ:PTVCB) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.14) EPS for the quarter. Protective Insurance had a negative net margin of 6.98% and a negative return on equity of 5.19%. The firm had revenue of $124.34 million during the quarter.

A number of large investors have recently made changes to their positions in PTVCB. Two Sigma Investments LP lifted its holdings in shares of Protective Insurance by 46.9% during the 4th quarter. Two Sigma Investments LP now owns 38,956 shares of the company’s stock worth $649,000 after acquiring an additional 12,437 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Protective Insurance by 17.9% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 20,311 shares of the company’s stock worth $338,000 after acquiring an additional 3,080 shares during the last quarter. Deprince Race & Zollo Inc. lifted its holdings in shares of Protective Insurance by 8.6% during the 1st quarter. Deprince Race & Zollo Inc. now owns 399,239 shares of the company’s stock worth $7,394,000 after acquiring an additional 31,678 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Protective Insurance by 41.6% during the 4th quarter. Rhumbline Advisers now owns 13,488 shares of the company’s stock worth $225,000 after acquiring an additional 3,962 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Protective Insurance during the 1st quarter worth $1,082,000. 48.16% of the stock is owned by hedge funds and other institutional investors.

About Protective Insurance

Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting property and casualty insurance products. The company offers a range of fleet transportation insurance products, including commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine products consisting of cargo insurance.

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