Palomar’s (NASDAQ:PLMR) lock-up period will end on Monday, October 14th. Palomar had issued 5,625,000 shares in its public offering on April 17th. The total size of the offering was $84,375,000 based on an initial share price of $15.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.
A number of analysts have recently weighed in on PLMR shares. SunTrust Banks raised their price target on shares of Palomar to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Evercore ISI restated a “buy” rating on shares of Palomar in a report on Monday, August 12th. JPMorgan Chase & Co. raised their price target on shares of Palomar from $27.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Zacks Investment Research upgraded shares of Palomar from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Thursday, August 15th. Finally, Barclays raised their price target on shares of Palomar from $30.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Palomar presently has a consensus rating of “Buy” and an average target price of $39.20.
PLMR stock opened at $39.41 on Friday. The stock has a 50 day moving average of $35.91. Palomar has a 52 week low of $18.06 and a 52 week high of $40.99.
Palomar (NASDAQ:PLMR) last released its earnings results on Monday, August 12th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.06. The company had revenue of $25.41 million during the quarter, compared to analyst estimates of $24.25 million. Analysts anticipate that Palomar will post 1.74 earnings per share for the current fiscal year.
In related news, major shareholder Vi Gp Aiv Ltd. Genstar sold 787,500 shares of Palomar stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $35.04, for a total value of $27,594,000.00. Also, President Heath A. Fisher sold 35,000 shares of Palomar stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $36.50, for a total transaction of $1,277,500.00. Insiders sold a total of 6,037,500 shares of company stock valued at $211,694,890 over the last quarter.
Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio purchased a new position in Palomar during the 2nd quarter worth approximately $36,000. JPMorgan Chase & Co. purchased a new position in Palomar during the 2nd quarter worth approximately $39,000. Quantitative Systematic Strategies LLC purchased a new position in Palomar during the 2nd quarter worth approximately $201,000. LPL Financial LLC purchased a new position in Palomar during the 2nd quarter worth approximately $203,000. Finally, Citadel Advisors LLC purchased a new position in Palomar during the 2nd quarter worth approximately $220,000. 25.98% of the stock is owned by institutional investors.
There is no company description available for Palomar Holdings Inc
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