United Insurance (NASDAQ:UIHC) Shares Cross Below Two Hundred Day Moving Average of $3.24

Shares of United Insurance Holdings Corp. (NASDAQ:UIHCGet Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.24 and traded as low as $1.63. United Insurance shares last traded at $1.71, with a volume of 6,890 shares changing hands.

Separately, StockNews.com began coverage on United Insurance in a research report on Thursday, March 31st. They issued a “hold” rating on the stock.

The firm has a market capitalization of $74.08 million, a price-to-earnings ratio of -1.01 and a beta of 0.86. The business has a fifty day moving average price of $2.10 and a 200 day moving average price of $3.24.

United Insurance (NASDAQ:UIHCGet Rating) last announced its quarterly earnings results on Monday, May 9th. The insurance provider reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.58). United Insurance had a negative return on equity of 21.51% and a negative net margin of 12.75%. The business had revenue of $106.40 million for the quarter, compared to analysts’ expectations of $136.52 million. During the same period last year, the company posted ($0.45) earnings per share. As a group, analysts predict that United Insurance Holdings Corp. will post -1.65 earnings per share for the current year.

In other news, Director Kent G. Whittemore purchased 25,000 shares of the company’s stock in a transaction on Wednesday, May 11th. The shares were bought at an average price of $1.46 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the director now owns 334,267 shares of the company’s stock, valued at $488,029.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 55.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in United Insurance by 57.1% in the 2nd quarter. Morgan Stanley now owns 114,532 shares of the insurance provider’s stock worth $653,000 after buying an additional 41,612 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in United Insurance in the 3rd quarter worth $604,000. Hsbc Holdings PLC raised its holdings in United Insurance by 14.5% in the 3rd quarter. Hsbc Holdings PLC now owns 39,051 shares of the insurance provider’s stock worth $140,000 after acquiring an additional 4,944 shares during the period. Marshall Wace LLP bought a new position in United Insurance in the 3rd quarter worth $444,000. Finally, Eaton Vance Management grew its position in United Insurance by 15.2% in the 3rd quarter. Eaton Vance Management now owns 39,041 shares of the insurance provider’s stock worth $109,000 after purchasing an additional 5,144 shares during the last quarter. 24.07% of the stock is owned by hedge funds and other institutional investors.

United Insurance Company Profile (NASDAQ:UIHC)

United Insurance Holdings Corp. operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States. The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners.

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