According to a new 13G filing with the SEC, Thomas E. Claugus‘ GMT Capital has unloaded some of its shares in United Insurance Holdings Corp. (NASDAQ:UIHC), as it holds 744,010 common shares as of the filing’s date of event of October 17, which represent 3.44% of the company’s outstanding stock. Previously, the fund’s stake consisted of 855,310 shares, as per its 13F filing for the reporting period of June 30.
As its name suggests, United Insurance Holdings is an insurance holding company that operates through its many insurance subsidiaries. Since the beginning of the year, the company’s stock has lost 17.31%. For the second quarter of 2016, United Insurance Holdings reported earnings per share of $0.45, which came in below the estimates of $0.55, and revenue of $114.18 million, which topped estimates of $101.44 million.
As per Insider Monkey’s hedge fund database, ten investors reported holding long positions in United Insurance Holdings as of the end of June, down by one from the end of March. Among the most bullish investors in the company on June 30 were Robert B. Gillam’s McKinley Capital Management (84,482 shares), Jim Simons’ Renaissance Technologies (51,000 shares), Chuck Royce’s Royce & Associates (13,000 shares), and Matthew Tewksbury’s Stevens Capital Management (10,179 shares).
You can access the original SEC filing by clicking here.
Ownership Summary Table
|Name||Sole Voting Power||Shared Voting Power||Sole Dispositive Power||Shared Dispositive Power||Aggregate Amount Owned Power||Percent of Class|
|Bay Resource Partners||224,130||224,130||1.04%|
|Bay II Resource Partners||144,060||144,060||1.43%|
|Bay Resource Partners Offshore Master Fund||308,980||308,980||3.44%|
|GMT Capital Corp. –||744,010||744,010||3.44%|
|Thomas E. Claugus –||744,010||744,010|
Page 1 of 10 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
UNDER THE SECURITIES EXCHANGE ACT OF 1934
United Insurance Holdings, Corp
(Name of Issuer)
COMMON STOCK, $0.0001 Par Value
(Title of Class of Securities)
October 17, 2016
(Date of Event which Requires Filing of this Statement)
CHECK THE APPROPRIATE BOX TO DESIGNATE THE RULE PURSUANT TO WHICH THIS SCHEDULE
[x] RULE 13D-1(B)
[ ] RULE 13D-1(C)
[ ] RULE 13D-1(D)
*THE REMAINDER OF THIS COVER PAGE SHALL BE FILLED OUT FOR A REPORTING
PERSON’S INITIAL FILING ON THIS FORM WITH RESPECT TO THE SUBJECT CLASS OF
SECURITIES, AND FOR ANY SUBSEQUENT AMENDMENT CONTAINING INFORMATION WHICH
WOULD ALTER DISCLOSURES PROVIDED IN A PRIOR COVER PAGE.
THE INFORMATION REQUIRED ON THE REMAINDER OF THIS COVER PAGE SHALL NOT
BE DEEMED TO BE “FILED” FOR THE PURPOSE OF SECTION 18 OF THE SECURITIES
EXCHANGE ACT OF 1934 (THE “ACT”) OR OTHERWISE SUBJECT TO THE LIABILITIES
OF THAT SECTION OF THE ACT BUT SHALL BE SUBJECT TO ALL OTHER PROVISIONS
OF THE ACT (HOWEVER, SEE THE NOTES).
Page 1 of 10 Pages