StockNews.com Initiates Coverage on Hallmark Financial Services (NASDAQ:HALL)

StockNews.com initiated coverage on shares of Hallmark Financial Services (NASDAQ:HALL) in a report released on Monday morning. The brokerage issued a hold rating on the insurance provider’s stock.

Hallmark Financial Services Price Performance

Shares of HALL opened at $0.80 on Monday. The firm’s 50 day moving average is $0.82 and its 200-day moving average is $1.31. The stock has a market capitalization of $1.67 million, a P/E ratio of -0.02 and a beta of 1.16. Hallmark Financial Services has a 12-month low of $0.57 and a 12-month high of $7.22.

Hedge Funds Weigh In On Hallmark Financial Services

Hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. acquired a new position in shares of Hallmark Financial Services in the 2nd quarter worth approximately $31,000. Acadian Asset Management LLC purchased a new position in shares of Hallmark Financial Services in the first quarter worth approximately $48,000. Geode Capital Management LLC purchased a new position in shares of Hallmark Financial Services in the first quarter worth approximately $100,000. Virtu Financial LLC purchased a new position in shares of Hallmark Financial Services in the first quarter worth approximately $95,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Hallmark Financial Services in the first quarter worth approximately $292,000. Institutional investors and hedge funds own 5.62% of the company’s stock.

Hallmark Financial Services Company Profile

Hallmark Financial Services, Inc underwrites, markets, distributes, and services property/casualty insurance products to businesses and individuals in the United States. The company operates in three segments: Commercial Lines, Personal Lines, and Runoff. The Commercial Lines segment offers commercial property/casualty insurance products, including general liability, commercial automobile, commercial property, umbrella, commercial multi-peril, and business owners' insurance products, as well as aircraft and aircraft liability products.