PLMR Should I Buy
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Palomar Holdings Inc (PLMR) is not a strong buy at the moment for a beginner investor with a long-term strategy. While the company has positive analyst ratings and a strong reinsurance position, the lack of recent positive news, insider selling, and technical indicators showing no clear upward momentum suggest a wait-and-see approach is more prudent.
The MACD histogram is positive but contracting, indicating weakening bullish momentum. RSI is neutral at 48.584, and moving averages are converging, showing no clear trend. Key support is at 106.3, and resistance is at 115.461. The stock's next-day and next-week probabilities lean slightly bearish.
Analysts have raised price targets recently, with Keefe Bruyette increasing the target to $162 and citing strong reinsurance coverage and lower loss ratios. The company has a strong earthquake and hurricane reinsurance position.
Insiders have significantly increased selling activity (254.41% rise in the last month). No recent news or event-driven catalysts. Technical indicators do not signal a strong upward trend.
No financial data available for analysis.
Analysts are generally positive, with multiple 'Outperform' and 'Overweight' ratings. Recent price target changes include increases from Keefe Bruyette to $162 and decreases from JPMorgan and Piper Sandler. Analysts highlight Palomar's strong growth and high ROE.
