On Jan. 06, Christianson Jon divested U.S. $132,240 in shares of Palomar Holdings Inc.. The Chief Underwriting Officer sold 1,500 shares at a price per share of $88.16. The transaction decreased this specific insider’s holdings to 109,968 shares worth around $10.88 million at present.
Barclays launched its Palomar Holdings Inc. [PLMR] rating to the equivalent of an Equal weight and assigned the price target of $82, in a research note dated November 17, 2020. That figure represents around a -20.71% premium from where the company’s shares closed on Friday. Some new analysts also started their coverage, with Barclays’s analysts assigning the shares to “an Equal weight” rating in a research note to investors issued in mid November. Meanwhile, Piper Sandler had lowered its rating on PLMR to “Neutral” from the earlier “an Overweight”, in a research note produced for clients November 12, 2020. In addition, there was a new coverage from JMP Securities on October 16, 2019. The research firm rated PLMR “a Mkt outperform”.
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Is Palomar Holdings Inc. [NASDAQ:PLMR] a Good Buy Right Now?
It should be noted that PLMR technical indicators for short, intermediate as well as long term progress have placed an overall average of 40% as Buy. The average signal changed from 8% Sell in the last week and compares with 72% Sell in the past month. Data from Palomar Holdings Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.27 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.32 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.35 million shares.
PLMR Price Performance
On Wall Street, Palomar Holdings Inc. [NASDAQ:PLMR] finished Friday’s session up 0.63% at $98.98. The stock went up to $100.77 at the same session while its lowest single day price was $97.705. In the last five days, it saw a rise of about 11.41%, Palomar Holdings Inc. shares gained by almost 11.41% since the beginning of the year. However, the share price has dropped to as low as -18.78% below its one year high. On 01/08/21, the company shares recorded $100.77, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $85.37. The company’s shares have inclined by 95.88% in the past year. The 50-day SMA achieved is $82.10 while the 200-day SMA is $82.68. Volume dropped to 0.18 million from 0.22 million in the previous session.
Palomar Holdings Inc. [PLMR] Valuation Measures
Notably, Palomar Holdings Inc. [PLMR] stock cannot be classified as a good candidate in the listing of underestimated low-priced Insurance – Property & Casualty companies to purchase soonest possible with the prevailing 12-month PE ratio of 126.25. The measure means the stock is exchanging at a premium as compared to the 13.32x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 15.61 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 1.08 which means PLMR serve an unattractive investment opportunity compared to its competitors.
PLMR Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 97.53 level, and in case of violation of this particular level, it will cause more drop to 96.09 level. On the upper level, 102.22 is still the key resistance. The stock may increase to the subsequent resistance at 100.60. The Relative Strength Index (RSI) pinned on the 14-day chart is 72.90, implying a overbought technical stance while the MACD stands at 5.33, meaning price will increase in the next trading period. Percent R indicator moved to 11.62%, implying bullish price movement. Stochastic %K at 91.32% suggest selling the stock.
What is the short interest in Palomar Holdings Inc.?
Short interest in the Palomar Holdings Inc. stock has surged, increasing by 0.19 million shares to total 0.92 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.11 million, data from Yahoo Finance shows. The decrease of -20.91% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 4.50% of the overall float for the stock.
Palomar Holdings Inc.’s Biggest Shareholders: Who Owns Palomar Holdings Inc. [PLMR]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 2,837,501 shares or roughly 11.12% of the outstanding PLMR shares. This means their shares have increased by 696,683 from the 2,837,501 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $117,349,313. Details in the latest 13F filings reveal that T. Rowe Price Associates, Inc. disposed off their -36.81% stake valued at $94,135,125 while AllianceBernstein LP cut theirs at $48,459,298. During the last quarter, T. Rowe Price Associates, Inc. liquidated -829,496 of its shares in Palomar Holdings Inc. while AllianceBernstein LP sold -47,766 shares. The Stephens Investment Management Gr’s holdings currently number 648,983 shares at $64236337.34. According to the firm’s last 13F report, CPR Asset Management SA shares in the company at filing stood at 629,224 shares, roughly $41,591,706.
PLMR Earnings Forecast For The Current Quarter
Palomar Holdings Inc. [PLMR] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $103.71M and an earnings per share of $0.16 for Dec 2020. Looking further ahead, the company is expected to report revenue of $92.39M at an EPS of $0.52 for Mar 2021. The estimates represent upside of 35.90% and 277.32% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
PLMR Earnings Estimates For The Current Year
For the financial year, Palomar Holdings Inc. [NASDAQ:PLMR] is expected to bring in revenue of $361.93M. The returns are nearly $109.97 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 0.61, lower than that of FY19 by -$1.12. Estimates put this year’s earnings growth at -64.70%, 278.70% for the next, and at an annual 13.50% over the next 5-year period. As for sales, forecasts are for an increase of 43.60% in the current fiscal year and a further 35.90% over the following year.
What are analyst thoughts on Palomar Holdings Inc.?
Looking forward to the Palomar Holdings Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Palomar Holdings Inc. stock at $107.00 within the next 12 months, which represents almost 7.5 per cent growth from its previous closing price of $98.98. The highest analysts’ target for Palomar Holdings Inc. stock projections is $130.00 and the lowest one is $82.00. Still, 9 analysts sharing their consensus rating for PLMR stock in 2021 agree that it is an Overweight.