Professional
Added to YB: 2024-03-01
Pitch date: 2024-03-01
ACIC [bullish]
American Coastal Insurance Corporation
+9.05%
current return
Author Info
Sohra Peak is a NY-based fund focused on undervalued small-caps with long-term potential. Follow the founder on Twitter.
Company Info
American Coastal Insurance Corporation, through its subsidiaries, primarily engages in the commercial and personal property and casualty insurance business in the United States.
Market Cap
$492.2M
Pitch Price
$11.76
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.62
P/E
6.20
EV/Sales
1.03
Sector
Insurance
Category
growth
$ACIC: Delivers Strong Fiscal Year Finish and Surpasses Net Income Expectations
$ACIC FY23: $82M net income>$59M est, driven by underwriting profits. FY24 outlook positive with hard market & quota share step-down. CR 53.6%, policies -9% QoQ. $38.2M raised via ATM. MGA fee income pursuit. Quota share to decrease to 20-27% from 40% on Jun 1.
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