Protective Insurance Corp (NASDAQ:PTVCA) Sees Large Growth in Short Interest

Protective Insurance Corp (NASDAQ:PTVCA) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 7,500 shares, a growth of 27.1% from the August 31st total of 5,900 shares. Based on an average daily volume of 500 shares, the short-interest […]

Protective Insurance Corp (NASDAQ:PTVCA) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 7,500 shares, a growth of 27.1% from the August 31st total of 5,900 shares. Based on an average daily volume of 500 shares, the short-interest ratio is currently 15.0 days. Currently, 0.6% of the company’s stock are sold short.

NASDAQ PTVCA opened at $14.00 on Thursday. The stock has a market capitalization of $198.98 million, a price-to-earnings ratio of -25.45 and a beta of 0.90. The stock’s 50 day moving average price is $15.38 and its two-hundred day moving average price is $16.10. Protective Insurance has a 52 week low of $10.95 and a 52 week high of $21.46.

Protective Insurance (NASDAQ:PTVCA) last released its earnings results on Wednesday, August 5th. The company reported $0.21 EPS for the quarter. The firm had revenue of $116.61 million for the quarter. Protective Insurance had a positive return on equity of 0.10% and a negative net margin of 1.71%.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Monday, August 17th.

An institutional investor recently raised its position in Protective Insurance stock. Wells Fargo & Company MN increased its holdings in shares of Protective Insurance Corp (NASDAQ:PTVCA) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,413 shares of the company’s stock after acquiring an additional 1,309 shares during the quarter. Wells Fargo & Company MN owned about 1.05% of Protective Insurance worth $2,093,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.61% of the company’s stock.

Separately, ValuEngine upgraded Protective Insurance from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 28th.

Protective Insurance Company Profile

Protective Insurance Corporation, through its subsidiaries, engages in marketing and underwriting property and casualty insurance products. The company offers a range of fleet transportation insurance products, including commercial motor vehicle liability, physical damage, and general liability insurance; workers compensation insurance; medical and indemnity insurance products; non-trucking motor vehicle liability insurance; fidelity and surety bonds; and inland marine products consisting of cargo insurance.

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