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United Insurance Holdings Corp. Message Board

  • queen_anne_22 queen_anne_22 Apr 27, 2013 9:20 PM Flag

    Good company but price is too high

    I've been studying this company to make a major investment but I concluded that it is worth about $5 per share. Few points:

    1) Why do they issue dividends and raise money by issuing shares? Makes no sense. If you want to raise money the you should be preserving cash and not issuing dividends.

    2) Underwriters charge hefty fees. The company only received $4.78 last December for every share it issued. It is encouraging that the lead underwriter purchased some shares, but he only paid $4.84 a share. Current price is substantially higher.

    3) Insiders have been buying but at substantially lower prices.

    4) Insiders also sold shares (300,000 shares), but you cannot see that in Yahoo. It was part of the issuance of new shares.

    Overall, not great value at current price.

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UIHC
15.05+0.01(+0.07%)May 22 3:59 PMEDT