Azora Capital LP Buys Shares of 743,987 Neptune Insurance Holdings Inc. $NP

Azora Capital LP bought a new stake in shares of Neptune Insurance Holdings Inc. (NYSE:NP) in the fourth quarter, Holdings Channel.com reports. The fund bought 743,987 shares of the company’s stock, valued at approximately $21,695,000. Neptune Insurance accounts for 1.4% of Azora Capital LP’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bamco Inc. NY acquired a new stake in Neptune Insurance during the 4th quarter valued at approximately $20,667,000. Boothbay Fund Management LLC acquired a new stake in Neptune Insurance during the 4th quarter valued at approximately $294,000. Freestone Grove Partners LP acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $9,857,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $4,742,000. Finally, Gillson Capital LP acquired a new stake in shares of Neptune Insurance during the 4th quarter worth approximately $6,320,000.

Neptune Insurance Stock Up 3.4%

Shares of NP opened at $28.87 on Thursday. Neptune Insurance Holdings Inc. has a 12-month low of $14.78 and a 12-month high of $33.23. The business’s fifty day moving average is $26.95 and its 200 day moving average is $25.32. The stock has a market cap of $3.99 billion and a P/E ratio of 106.92.

Neptune Insurance (NYSE:NP) last issued its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million during the quarter, compared to the consensus estimate of $36.96 million. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts expect that Neptune Insurance Holdings Inc. will post 0.4 EPS for the current year.

Insider Buying and Selling at Neptune Insurance

In other Neptune Insurance news, major shareholder Vii L.P. Ftv sold 5,252,044 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.40, for a total transaction of $138,653,961.60. Following the transaction, the insider directly owned 17,098,587 shares in the company, valued at approximately $451,402,696.80. This trade represents a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Hold 101 Lp Bsiv sold 4,589,351 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $26.40, for a total value of $121,158,866.40. Following the transaction, the insider owned 14,941,121 shares in the company, valued at approximately $394,445,594.40. This trade represents a 23.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 11,317,604 shares of company stock worth $298,784,746. Company insiders own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NP. Mizuho raised their price objective on shares of Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 13th. Evercore reaffirmed an “outperform” rating on shares of Neptune Insurance in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Neptune Insurance in a research report on Monday, April 20th. Morgan Stanley raised their price objective on shares of Neptune Insurance from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 21st. Finally, Piper Sandler reduced their price objective on shares of Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.73.

About Neptune Insurance

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.