Patriot National Inc. (NYSE:PN) insider Judith L. Haddad bought 2,500 shares of the company’s stock in a transaction on Monday, November 28th. The shares were bought at an average price of $6.64 per share, for a total transaction of $16,600.00. Following the completion of the acquisition, the insider now directly owns 80,000 shares in the company, valued at approximately $531,200. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Patriot National Inc. (NYSE:PN) traded up 1.49% during trading on Monday, hitting $6.82. 226,835 shares of the stock traded hands. The firm has a market cap of $180.64 million, a P/E ratio of 14.24 and a beta of 2.77. The company has a 50-day moving average of $6.98 and a 200-day moving average of $8.06. Patriot National Inc. has a 52 week low of $3.56 and a 52 week high of $14.78.
Patriot National (NYSE:PN) last released its quarterly earnings results on Monday, November 14th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.15. The firm had revenue of $60.20 million for the quarter, compared to the consensus estimate of $70.19 million. Patriot National had a return on equity of 13.44% and a net margin of 5.81%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Patriot National Inc. will post $0.56 EPS for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Friday, December 9th. Investors of record on Monday, November 28th will be issued a $2.50 dividend. The ex-dividend date is Monday, December 12th.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Patriot National by 5.7% in the second quarter. Vanguard Group Inc. now owns 375,516 shares of the company’s stock valued at $3,072,000 after buying an additional 20,287 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Patriot National by 31.9% in the second quarter. BlackRock Fund Advisors now owns 283,493 shares of the company’s stock valued at $2,319,000 after buying an additional 68,484 shares during the last quarter. A.R.T. Advisors LLC boosted its stake in shares of Patriot National by 229.0% in the first quarter. A.R.T. Advisors LLC now owns 142,366 shares of the company’s stock valued at $1,096,000 after buying an additional 99,100 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Patriot National by 12.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 127,601 shares of the company’s stock valued at $1,044,000 after buying an additional 14,277 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new stake in shares of Patriot National during the third quarter valued at approximately $1,075,000. Institutional investors and hedge funds own 25.53% of the company’s stock.
Several brokerages have commented on PN. Zacks Investment Research downgraded shares of Patriot National from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 22nd. Compass Point upgraded shares of Patriot National from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, November 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.00.
About Patriot National