Shares of United Insurance Holdings Corp. (NASDAQ:UIHC – Get Rating) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.26 and traded as high as $3.00. United Insurance shares last traded at $2.98, with a volume of 72,998 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut United Insurance from a “hold” rating to a “sell” rating in a research note on Friday, March 10th.
United Insurance Stock Up 8.0 %
The firm has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $1.26. The stock has a market cap of $129.06 million, a P/E ratio of -0.27 and a beta of -0.03.
Institutional Investors Weigh In On United Insurance
Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in United Insurance by 374.9% during the 2nd quarter. Millennium Management LLC now owns 295,920 shares of the insurance provider’s stock worth $462,000 after buying an additional 233,612 shares during the period. Clear Harbor Asset Management LLC increased its position in United Insurance by 134.3% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 161,925 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 92,810 shares during the period. Lido Advisors LLC boosted its stake in United Insurance by 22.8% in the 3rd quarter. Lido Advisors LLC now owns 215,102 shares of the insurance provider’s stock worth $137,000 after purchasing an additional 40,000 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of United Insurance by 22.2% during the 1st quarter. Bank of New York Mellon Corp now owns 190,629 shares of the insurance provider’s stock valued at $631,000 after purchasing an additional 34,580 shares during the last quarter. Finally, Morgan Stanley increased its holdings in United Insurance by 41.5% in the 4th quarter. Morgan Stanley now owns 80,221 shares of the insurance provider’s stock worth $85,000 after acquiring an additional 23,520 shares in the last quarter. Institutional investors and hedge funds own 14.27% of the company’s stock.
About United Insurance
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United Insurance Holdings Corp. engages in the residential personal and commercial property and casualty insurance business. It offers insurance relating to homeowners, landlord and seasonal, condominium, flood, renters, and commercial residential. The company was founded on May 1, 2007 and is headquartered in St.
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