Maiden Holdings, Ltd. (NASDAQ:MHLD) Sees Significant Increase in Short Interest

Maiden Holdings, Ltd. (NASDAQ:MHLD) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 3,017,034 shares, an increase of 109.2% from the February 28th total of 1,442,367 shares. Approximately 5.0% of the company’s stock are sold short. Based on an average daily volume of 2,236,780 shares, the short-interest ratio is presently 1.3 days.

Separately, B. Riley cut their price target on shares of Maiden from $2.50 to $1.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.50.

MHLD traded down $0.08 during midday trading on Friday, reaching $0.70. The company had a trading volume of 724,166 shares, compared to its average volume of 537,598. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 2.83. Maiden has a 12-month low of $0.61 and a 12-month high of $9.10.

Maiden (NASDAQ:MHLD) last released its earnings results on Friday, March 15th. The insurance provider reported ($2.56) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($2.54). The company had revenue of $521.71 million during the quarter. Maiden had a negative net margin of 21.64% and a negative return on equity of 97.94%.

In related news, Director Yehuda Neuberger purchased 111,917 shares of the firm’s stock in a transaction on Friday, March 29th. The stock was purchased at an average cost of $0.81 per share, with a total value of $90,652.77. Following the completion of the purchase, the director now owns 71,100 shares in the company, valued at approximately $57,591. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 163,633 shares of company stock valued at $130,691. Insiders own 10.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MHLD. Norges Bank bought a new stake in shares of Maiden in the fourth quarter valued at approximately $1,352,000. BlackRock Inc. raised its position in shares of Maiden by 10.4% in the third quarter. BlackRock Inc. now owns 8,537,607 shares of the insurance provider’s stock valued at $24,332,000 after purchasing an additional 807,507 shares during the period. Matarin Capital Management LLC bought a new stake in shares of Maiden in the third quarter valued at approximately $2,125,000. Capital Returns Management LLC bought a new stake in shares of Maiden in the third quarter valued at approximately $1,465,000. Finally, 683 Capital Management LLC bought a new stake in shares of Maiden in the fourth quarter valued at approximately $701,000. 52.47% of the stock is currently owned by institutional investors.

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Maiden Company Profile

Maiden Holdings, Ltd., through its subsidiaries, provides reinsurance solutions to regional and specialty insurers in the United States, Europe, and internationally. It operates in two segments, Diversified Reinsurance and AmTrust Reinsurance. The Diversified Reinsurance segment offers property and casualty reinsurance, including the writing of treaties on a quota share or excess of loss basis; and facultative risks, which are marketed through third-party intermediaries and on a direct basis.

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