Dynamic Technology Lab Private Ltd increased its stake in Patriot National Inc. (NYSE:PN) by 6.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,593 shares of the company’s stock after buying an additional 993 shares during the period. Dynamic Technology Lab Private Ltd owned approximately 0.06% of Patriot National worth $128,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Menta Capital LLC raised its stake in Patriot National by 78.2% in the first quarter. Menta Capital LLC now owns 72,462 shares of the company’s stock valued at $558,000 after buying an additional 31,800 shares in the last quarter. UBS Group AG raised its stake in Patriot National by 16.1% in the first quarter. UBS Group AG now owns 68,392 shares of the company’s stock valued at $527,000 after buying an additional 9,481 shares in the last quarter. A.R.T. Advisors LLC raised its stake in 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 in the last quarter. Oakworth Capital Inc. raised its stake in Patriot National by 100.0% in the second quarter. Oakworth Capital Inc. now owns 16,000 shares of the company’s stock valued at $121,000 after buying an additional 8,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Patriot National by 11.5% in the second quarter. Bank of New York Mellon Corp now owns 38,198 shares of the company’s stock valued at $312,000 after buying an additional 3,953 shares in the last quarter. Institutional investors and hedge funds own 21.95% of the company’s stock.
Patriot National Inc. (NYSE:PN) opened at 8.76 on Friday. The firm has a market cap of $231.17 million, a P/E ratio of 15.48 and a beta of 2.53. The stock has a 50 day moving average price of $9.03 and a 200 day moving average price of $8.37. Patriot National Inc. has a 52-week low of $3.56 and a 52-week high of $15.04.
Patriot National (NYSE:PN) last issued its earnings results on Monday, August 15th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.10. The firm earned $56.50 million during the quarter, compared to analyst estimates of $64.76 million. Patriot National had a net margin of 6.65% and a return on equity of 17.07%. Equities analysts predict that Patriot National Inc. will post $0.84 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered Patriot National from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.
In other Patriot National news, insider Paul Halter sold 2,794 shares of Patriot National stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $9.09, for a total transaction of $25,397.46. Following the completion of the transaction, the insider now owns 38,530 shares in the company, valued at approximately $350,237.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 59.90% of the company’s stock.
Patriot National Company Profile
Patriot National, Inc is an independent national provider of technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk and comply with complex regulations. It offers a range of end-to-end insurance related and specialty services. The Company principally offers approximately two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration.
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