Hallmark Financial Services, Inc. (NASDAQ:HALL) Sees Large Increase in Short Interest

Hallmark Financial Services, Inc. (NASDAQ:HALL – Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 20,200 shares, a growth of 5.8% from the September 15th total of 19,100 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average trading volume of 9,500 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Hallmark Financial Services in a report on Sunday. They set a “hold” rating for the company.

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Hallmark Financial Services Price Performance

Shares of Hallmark Financial Services stock opened at $2.03 on Wednesday. Hallmark Financial Services has a twelve month low of $1.90 and a twelve month high of $11.66. The company has a debt-to-equity ratio of 4.48, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $4.15. The firm has a market cap of $3.69 million, a P/E ratio of -0.04 and a beta of 1.23.

Hallmark Financial Services (NASDAQ:HALL – Get Free Report) last posted its earnings results on Monday, August 14th. The insurance provider reported ($6.83) earnings per share (EPS) for the quarter. Hallmark Financial Services had a negative net margin of 53.32% and a negative return on equity of 135.49%. The firm had revenue of $40.93 million during the quarter.

Institutional Investors Weigh In On Hallmark Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC bought a new position in Hallmark Financial Services in the 1st quarter valued at $100,000. Dimensional Fund Advisors LP acquired a new stake in Hallmark Financial Services in the first quarter worth about $292,000. Point72 Asset Management L.P. bought a new stake in Hallmark Financial Services during the 2nd quarter worth about $31,000. Virtu Financial LLC acquired a new position in Hallmark Financial Services during the 1st quarter valued at about $95,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Hallmark Financial Services by 20.5% in the 1st quarter. Renaissance Technologies LLC now owns 123,613 shares of the insurance provider’s stock valued at $449,000 after purchasing an additional 21,023 shares during the last quarter. Institutional investors and hedge funds own 15.35% of the company’s stock.

About Hallmark Financial Services

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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.

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