Long Position on ACIC @ $13.25 on 2/26/2024 (Fundamentals)

American Coastal Insurance Corporation (ACIC) operates as a property and casualty insurance holding company that sources, writes, and services residential personal and commercial property, and casualty insurance policies in the United States.

The company offers structure, content, and liability coverage for standard single-family homeowners, renters, and condominium unit owners. It also provides commercial multi-peril property insurance for residential condominium associations and apartments, as well as loss or damage to buildings, inventory, and equipment caused by fire, wind, hail, water, theft, and vandalism.

In addition, the company offers equipment breakdown, identity theft, cyber security, and flood policies.

The company markets and distributes its products through a network of independent agencies.

The company was formerly known as United Insurance Holdings Corp. and changed its name to American Coastal Insurance Corporation in August 2023. American Coastal Insurance Corporation was founded in 1999 and is headquartered in Saint Petersburg, Florida.

Please note, this stock reports earnings on Thursday, February 29th.

This stock should see a positive earnings report as the company's market value increased by US$69m as a result of the stock's 16% gain over the last year.

Entry Point: $13.25

Trading Range: $1.48 - $13.82

Stop Loss: $12.60

Target Price: $14.50

Position closed on 3/8/2024 at price of $12.60 with a -4.91% loss in 10 days.

Back to Portfolio