First Acceptance Corporation (NYSE:FAC) insider have most recently took part in a trading activity. On Aug 24, 2017 Bobbitt Rhodes R, Director bought 800 shares having total worth of $816 at the price of $1.02 per share, following the transaction a total of 693,125 shares owned by Bobbitt Rhodes R. Before this latest buy, Bobbitt Rhodes R purchased FAC at 6 other times during the past twelve months, for a total investment of $155,163 at an average of $1.06 per share.
The stock has experienced a total of 2 insider trades in the past three months. These trades include 2 buy trades. Furthermore, over the past 12 months , the stock was traded 7 times by insiders. an employee of the company was the buyer in 7 instances.
|Time Frame||Number of Insider Buy||Number of Insider Sell||Stock Price Change(%)|
Shares of First Acceptance Corporation (NYSE:FAC) traded up 2.86% on Aug 24, 2017, hitting $1.08. 14,040 shares of the company’s stock traded hands. First Acceptance Corporation has a 52 week low of $0.79 and a 52 week high of $2.18. The company’s market cap is $42 million.
First Acceptance Corporation (NYSE:FAC) last announced its earnings results on Aug 9, 2017. The company reported -0.02 earnings per share (EPS) for the quarter. The company had revenue of $91 million for the quarter During the same quarter in the previous year, the company posted -0.48 earnings per share. The company’s revenue for the quarter was down 11% on a year-over-year basis.
|earnings per share||-0.02||0.02||-0.09||-0.01||-0.13||-0.07||0.01||0.01||0.05||0.08|
First Acceptance Corporation is a Delaware Corporation. The Company is a retailer, servicer and underwriter of non-standard personal automobile insurance based in Nashville, Tennessee. The Company’s real estate and corporate segment consists of activities related to the disposition of real estate held for sale, interest expense associated with debt, and other general corporate overhead expenses. It writes non-standard personal automobile insurance in 12 states and is licensed as an insurer in 13 additional states. Non-standard personal automobile insurance is made available to individuals who are categorized as ‘non-standard’ because of their inability or unwillingness to obtain standard insurance coverage due to various factors, including payment history, payment preference, failure in the past to maintain continuous insurance coverage, driving record and/or vehicle type, and in most instances who are required by law to buy a minimum amount of automobile insurance. The Company’s core business involves issuing automobile insurance policies to individuals who are categorized as ‘non-standard,’ based mainly on their inability or unwillingness to obtain insurance coverage from standard carriers due to various factors, including their need for monthly payment plans, failure to maintain continuous insurance coverage or driving record. It uses a single ‘product template’ as the basis for its rates, rules and forms. Product uniformity simplifies its business and allows speed to market when entering a new state, modifying an existing program or introducing a new program. In addition, its retail agents, underwriters and claims adjusters only need to be trained in one basic set of underwriting guidelines and one basic automobile policy. In addition to non-standard personal automobile insurance, it also offers its customers optional products that provide ancillary reimbursements and benefits in the event of an automobile accident. Those products generally provide reimbursements for medical expenses and hospital stays as a result of injuries sustained in an automobile accident, automobile towing and rental, bail bond premiums and ambulance services. The non-standard personal automobile insurance business is highly competitive. The Company’s competitors are the Berkshire Hathaway insurance group (which includes GEICO), the Bristol West insurance group, the Direct General insurance group, the Infinity insurance group, the Affirmative insurance group, the Progressive insurance group, the Safe Auto insurance group, the Permanent General insurance group, and the AIG insurance group. The Company’s primary advertising strategy combines local print media advertising, such as the Yellow Pages(r), with low-cost television and radio advertising. The Company and its insurance company subsidiaries are regulated by governmental agencies in the states in which it conducts business and by various federal statutes and regulations.
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