Duyuru • Nov 10
FedNat Holding Company(OTCPK:FNHC) dropped from S&P TMI Index FedNat Holding Company(OTCPK:FNHC) dropped from S&P TMI Index Duyuru • Oct 27
FedNat Holding Company Announces Voluntary Nasdaq Delisting FedNat Holding Company announced that it has notified The Nasdaq Stock Market LLC (“Nasdaq”) of the Company’s decision to voluntarily delist its common stock from the Nasdaq Global Market and its intent to file a Form 25 with the U.S. Securities and Exchange Commission (the “SEC”) on or about November 7, 2022. As a result, the Company expects the delisting of its common stock to become effective 10 days following such filing, or November 17, 2022. The Company may discuss with market makers for its common stock the possibility of having its common stock quoted on the over-the-counter market, but no arrangements have yet been made in that regard. There can be no assurances that any brokers will continue to make a market in the Company’s common stock or that trading of the common stock will continue on the over-the-counter market or otherwise. As previously reported, the Company has been out of compliance with certain of the Nasdaq listing rules, including Nasdaq Listing Rule 5450(a)(1), which requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), and Nasdaq Listing Rule 5810(c)(3)(A), which provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. To regain compliance with these Listing Rules, the closing bid price of the Company’s common stock must be at least $1.00 per share for a minimum of 10 consecutive business days prior to November 27, 2022. In addition, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because of the ongoing delay in the filing of its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. Because of uncertainties surrounding the Company’s ability to regain compliance with the foregoing Nasdaq Listing Rules, the Company’s Board of Directors has determined that the voluntary delisting of the Company’s common stock will be in the best interests of the Company and its shareholders. The Board’s decision was based on careful review of several factors, including the likely inability of the Company to regain compliance and the significant costs associated therewith (including costs associated with requesting a hearing to obtain an extension of time for compliance), the benefits to the Company of eliminating the expense of the Nasdaq listing fees, and eliminating the demands on management’s time of complying with the Nasdaq listing standards. Duyuru • Aug 20
FedNat Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(C)(1) FedNat Holding Company announced that on August 17, 2022, it received notice from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. The Company has a period of 60 days from the Notice date to submit a plan to regain compliance with the Nasdaq Listing Rules. The Company has advised Nasdaq that it anticipates filing the Form 10-Q within such 60-day period. The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Global Market. Duyuru • Aug 17
FedNat Holding Company announced delayed amended 10-Q filing On 08/16/2022, FedNat Holding Company announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. Duyuru • Aug 11
FedNat Holding Company announced delayed 10-Q filing On 08/10/2022, FedNat Holding Company announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Jun 04
FedNat Holding Receives Written Notice from the Listing Qualifications Department of Nasdaq Regarding Minimum Bid Price Requirement On May 31, 2022, FedNat Holding Company ("the Company") received written notice ("the Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") notifying the Company that, based on the closing bid price of the Company's common stock for the last 30 consecutive business days, the Company no longer complies with the minimum bid price requirement for continued listing on The Nasdaq Global Market. Nasdaq Listing Rule 5450(a)(1) requires listed securities to maintain a minimum bid price of $1.00 per share ("the Minimum Bid Price Requirement"), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. Duyuru • May 17
FedNat Holding Company announced delayed amended 10-Q filing On 05/16/2022, FedNat Holding Company announced that they will be unable to file their amended 10-Q by the deadline required by the SEC. Duyuru • May 12
FedNat Holding Company announced delayed 10-Q filing On 05/10/2022, FedNat Holding Company announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Duyuru • Apr 04
FedNat Holding Receives Nasdaq Notification of Non-Compliance with Listing Rule 5250(c)(1) FedNat Holding Company announced that on April 1, 2022, it received a letter from the Listing Qualifications Department of the Nasdaq Stock Market (Nasdaq) notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Annual Report on Form 10-K for the year ended December 31, 2021. The Letter has no immediate effect on the listing or trading of FedNat’s common stock on the Nasdaq Capital Market. The Letter states that the Company is required to submit a plan to regain compliance by May 31, 2022. The Company has advised Nasdaq that it expects to comply with this requirement by filing its 2021 Form 10-K well in advance of the May 31, 2022 deadline. Duyuru • Apr 01
FedNat Holding Company announced delayed amended 10-K filing On 03/31/2022, FedNat Holding Company announced that they will be unable to file their amended 10-K by the deadline required by the SEC. Duyuru • Mar 06
FedNat Holding Company Reports Impairment of Intangibles for the Fourth Quarter Ended December 31, 2021 FedNat Holding Company reported Impairment of intangibles for the fourth quarter ended December 31, 2021. For the quarter, the company reported Impairment of intangibles of $1,280,000 compared to $11,699,000 a year ago. Reported Earnings • Nov 11
Third quarter 2021 earnings released: US$1.42 loss per share (vs US$1.51 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: US$66.7m (down 31% from 3Q 2020). Net loss: US$24.8m (loss widened 20% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 17
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$275.3m to US$281.9m. Forecast EPS reduced from -US$2.72 to -US$4.04 per share. Insurance industry in the US expected to see average net income decline 9.3% next year. Consensus price target down from US$5.00 to US$3.75. Share price rose 24% to US$3.15 over the past week. Reported Earnings • Aug 12
Second quarter 2021 earnings released: US$2.89 loss per share (vs US$1.57 loss in 2Q 2020) The company reported a poor second quarter result with increased losses, weaker revenues and weaker control over costs. Second quarter 2021 results: Revenue: US$59.0m (down 56% from 2Q 2020). Net loss: US$50.4m (loss widened 135% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Price Target Changed • Jun 17
Price target decreased to US$7.00 Down from US$12.00, the current price target is an average from 3 analysts. New target price is 63% above last closing price of US$4.30. Stock is down 62% over the past year. Duyuru • Mar 17
FedNat Holding Company announced delayed annual 10-K filing On 03/16/2021, FedNat Holding Company announced that they will be unable to file their next 10-K by the deadline required by the SEC. Is New 90 Day High Low • Mar 16
New 90-day low: US$4.76 The company is down 11% from a price of US$5.37 on 15 December 2020. Underperformed the American market, which is up 9.0% over the last 90 days. Lagged the Insurance industry, which is up 14% over the same period. Duyuru • Mar 14
FedNat Holding Company has completed a Follow-on Equity Offering in the amount of $16.625 million. FedNat Holding Company has completed a Follow-on Equity Offering in the amount of $16.625 million.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: $4.75
Discount Per Security: $0.285 Reported Earnings • Mar 04
Full year 2020 earnings released: US$5.28 loss per share (vs US$0.078 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$432.2m (up 4.2% from FY 2019). Net loss: US$73.0m (down US$74.0m from profit in FY 2019). Combined ratio: 142.4% (up from 111.0% in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Analyst Estimate Surprise Post Earnings • Mar 04
Revenue and earnings miss expectations Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 11%. Over the next year, revenue is forecast to decline by -9.9% while the Insurance industry in the US is not expected to grow. Duyuru • Feb 17
FedNat Holding Company to Report Q4, 2020 Results on Mar 02, 2021 FedNat Holding Company announced that they will report Q4, 2020 results at 4:00 PM, US Eastern Standard Time on Mar 02, 2021 Is New 90 Day High Low • Feb 09
New 90-day high: US$6.88 The company is up 4.0% from its price of US$6.61 on 10 November 2020. The American market is up 16% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 7.0% over the same period. Reported Earnings • Nov 12
Third quarter 2020 earnings released: US$1.51 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$97.3m (down 2.2% from 3Q 2019). Net loss: US$20.7m (down US$25.4m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 12
Revenue behind estimates Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 11% compared to a 1.9% growth forecast for the Insurance industry in the US. Reported Earnings • Nov 06
Third quarter 2020 earnings released: US$1.51 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: US$97.3m (down 2.2% from 3Q 2019). Net loss: US$20.7m (down US$25.4m from profit in 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 29% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Nov 06
New 90-day low: US$5.09 The company is down 49% from its price of US$9.91 on 07 August 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Nov 06
Revenue behind estimates Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to decline by -7.1% while the growth in Insurance industry in the US is expected to stay flat. Duyuru • Nov 06
Fednat Holding Company Extends the Term of Ronald A. Jordan as Chief Financial Officer FedNat Holding Company entered into an Amendment to Employment Agreement with Ronald A. Jordan, the Company’s Chief Financial Officer, which amends Mr. Jordan’s Employment Agreement dated as of January 8, 2019 (the “Employment Agreement”) to extend the term and add a renewal period. Under his Employment Agreement, as amended by the Amendment, Mr. Jordan will continue to serve as the Company’s Chief Financial Officer for a period of two years beginning on the effective date of the Amendment. The term of the Employment Agreement will also be automatically extended so that at all times the balance of the term is not less than two years unless sooner terminated as provided in the Employment Agreement. No other changes to the Employment Agreement were made. Duyuru • Oct 20
FedNat Holding Company to Report Q3, 2020 Results on Nov 04, 2020 FedNat Holding Company announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 04, 2020 Is New 90 Day High Low • Oct 17
New 90-day low: US$5.88 The company is down 45% from its price of US$10.67 on 17 July 2020. The American market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Duyuru • Oct 04
FedNat Holding Company to Report Q1, 2019 Results on May 07, 2019 FedNat Holding Company announced that they will report Q1, 2019 results at 4:00 PM, US Eastern Standard Time on May 07, 2019 Duyuru • Oct 03
FedNat Holding Company to Report Q2, 2019 Results on Aug 06, 2019 FedNat Holding Company announced that they will report Q2, 2019 results at 5:00 PM, Eastern Standard Time on Aug 06, 2019 Major Estimate Revision • Sep 22
Analysts update estimates The company's losses in 2020 are expected to worsen with analysts lowering their consensus EPS forecasts from -US$2.22 to -US$2.67. No change was made to the revenue estimate which at the last update was US$452.1m. The Insurance industry in the US is expected to see an average net income growth of 7.0% next year. The consensus price target was lowered from US$12.00 to US$11.00. Share price is down by 6.3% to US$7.49 over the past week. Duyuru • Jul 21
FedNat Holding Company to Report Q2, 2020 Results on Aug 05, 2020 FedNat Holding Company announced that they will report Q2, 2020 results at 4:00 PM, US Eastern Standard Time on Aug 05, 2020 Duyuru • Jul 04
FedNat Holding Company(NasdaqGM:FNHC) dropped from Russell 2000 Dynamic Index FedNat Holding Company(NasdaqGM:FNHC) dropped from Russell 2000 Dynamic Index