1347 Property Insurance Holdings Inc (NASDAQ:PIH) Sees Large Growth in Short Interest

1347 Property Insurance Holdings Inc (NASDAQ:PIH) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,300 shares, a growth of 43.8% from the September 30th total of 1,600 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 3,000 shares, the days-to-cover ratio is currently 0.8 days.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in 1347 Property Insurance by 12.3% during the 2nd quarter. Renaissance Technologies LLC now owns 111,062 shares of the insurance provider’s stock worth $550,000 after buying an additional 12,144 shares during the last quarter. Vanguard Group Inc. raised its position in 1347 Property Insurance by 5.8% during the 2nd quarter. Vanguard Group Inc. now owns 47,637 shares of the insurance provider’s stock worth $236,000 after buying an additional 2,600 shares during the last quarter. Finally, Morgan Stanley raised its position in 1347 Property Insurance by 26.4% during the 2nd quarter. Morgan Stanley now owns 10,135 shares of the insurance provider’s stock worth $51,000 after buying an additional 2,114 shares during the last quarter. 38.17% of the stock is owned by institutional investors.

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

Shares of 1347 Property Insurance stock traded up $0.15 during midday trading on Monday, hitting $4.78. The company had a trading volume of 1,300 shares, compared to its average volume of 3,415. The company has a fifty day simple moving average of $4.68 and a 200 day simple moving average of $5.07. 1347 Property Insurance has a 12-month low of $3.75 and a 12-month high of $6.10.

1347 Property Insurance (NASDAQ:PIH) last posted its quarterly earnings results on Wednesday, August 14th. The insurance provider reported ($0.11) earnings per share (EPS) for the quarter. 1347 Property Insurance had a negative return on equity of 1.15% and a negative net margin of 11.89%. The business had revenue of $0.28 million for the quarter.

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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