1347 Property Insurance Holdings Inc (NASDAQ:PIH) Short Interest Up 13.0% in October

1347 Property Insurance Holdings Inc (NASDAQ:PIH) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 2,600 shares, an increase of 13.0% from the September 30th total of 2,300 shares. Based on an average daily trading volume, of 2,500 shares, the short-interest ratio is currently 1.0 days. Approximately 0.1% of the shares of the stock are short sold.

1347 Property Insurance stock traded down $0.03 during trading hours on Friday, hitting $4.62. 4,800 shares of the company traded hands, compared to its average volume of 2,736. 1347 Property Insurance has a 1-year low of $3.75 and a 1-year high of $6.10. The firm’s 50-day simple moving average is $4.68 and its two-hundred day simple moving average is $5.06.

1347 Property Insurance (NASDAQ:PIH) last announced its earnings results on Wednesday, August 14th. The insurance provider reported ($0.11) EPS for the quarter. 1347 Property Insurance had a positive return on equity of 1.22% and a negative net margin of 20.89%. The firm had revenue of $0.28 million during the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of 1347 Property Insurance by 26.4% during the second quarter. Morgan Stanley now owns 10,135 shares of the insurance provider’s stock worth $51,000 after purchasing an additional 2,114 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 1347 Property Insurance by 5.8% during the second quarter. Vanguard Group Inc. now owns 47,637 shares of the insurance provider’s stock worth $236,000 after purchasing an additional 2,600 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of 1347 Property Insurance by 12.3% during the second quarter. Renaissance Technologies LLC now owns 111,062 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 12,144 shares during the period. Institutional investors own 38.17% of the company’s stock.

Separately, ValuEngine raised shares of 1347 Property Insurance from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd.

1347 Property Insurance Company Profile

1347 Property Insurance Holdings, Inc, an insurance holding company, provides property and casualty insurance products to individuals in Louisiana, Florida, and Texas. The company offers homeowners' insurance, manufactured home insurance, dwelling fire insurance, and wind/hail insurance products, as well as reinsurance products.

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