Patrick Maroney, a director at American Coastal Insurance Corp (NASDAQ:ACIC), recently purchased shares of the company in two separate transactions. On December 13, Maroney acquired 372 shares at a price of $13.78 each. A few days later, on December 16, he bought an additional 3,128 shares at $13.96 per share. These transactions amounted to a total investment of $48,793. Following these purchases, Maroney now directly owns 93,500 shares of American Coastal Insurance.
The insider buying comes as ACIC, currently valued at $665 million, shows strong market performance with a 65% gain over the past year. According to InvestingPro analysis, the company maintains a GREAT financial health score and trades at an attractive P/E ratio of 7.6. The stock is currently trading near its Fair Value, suggesting balanced valuation. For deeper insights into ACIC's valuation and 12+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
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