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especially with the new breakout into 4 states to add to FL, this looks to be a great stock to own and in fact bought it yesterday as I can see it going to 30.
I bought some today at 26.5, and I think $$MM will be getting this one too, sometime next month in the 30's. I'll happily ride it all the way to 40 from here.
I took a bite this morning at $25. I wanted to buy it last week, but held off hoping it would give me a chance to buy at a discount. I like it at these levels... I hope it is done dropping now.
Dropped like a brick today even with good 2nd Quarter:
37% increase in gross premiums written in Q2 2015 as compared to Q2 2014
114% increase in net premiums earned in Q2 2015 as compared to Q2 2014
30% increase in policy count compared to Q2 2014
Net income of $25.4 million for Q2 2015, an increase of 166% as compared to Q2 2014
Gross combined ratio of 71.1% for the quarter
Dropped like a brick today even with good 2nd Quarter:
37% increase in gross premiums written in Q2 2015 as compared to Q2 2014
114% increase in net premiums earned in Q2 2015 as compared to Q2 2014
30% increase in policy count compared to Q2 2014
Net income of $25.4 million for Q2 2015, an increase of 166% as compared to Q2 2014
Gross combined ratio of 71.1% for the quarter
Why?!?!?!
They filed a shelf registration on 8/5 on the SEC site for $400,000,000 worth of various instruments. For a company with a market cap of $600 mil this could result in fairly serious dilution. The thing that would trouble me is that only the pros would see this yesterday on the SEC site. It is only after hours today that it appears on (e.g.) Yahoo.
yeah, sounds like a little leakage of the banking info in play here. takes quite a few players to hammer out $400M worth of financing. can't keep every mouth shut, I guess... hope this doesn't wind up sinking the stock for good, as I've already bought it!
yeah, sounds like a little leakage of the banking info in play here. takes quite a few players to hammer out $400M worth of financing. can't keep every mouth shut, I guess... hope this doesn't wind up sinking the stock for good, as I've already bought it!
I declare this a buy at 20.0x. The people who saw the SEC notice Wednesday night sold Thursday morning. The people that saw the Yahoo, et. al, notice Thursday night sold this AM. The selling is done. Yes there is some dilution but the business has not changed and the numbers are good.
I declare this a buy at 20.0x. The people who saw the SEC notice Wednesday night sold Thursday morning. The people that saw the Yahoo, et. al, notice Thursday night sold this AM. The selling is done. Yes there is some dilution but the business has not changed and the numbers are good.
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