AmTrust Financial (AFSI) Soars: Stock Adds 9.2% In Session

AmTrust Financial Services, Inc. (NASDAQ:AFSI) was a big mover last session, as the company saw its shares rise more than 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $11.97–$13.34 in the past one-month time frame, witnessed a sharp increase yesterday.

The stock gained after news that the company has inked a roughly $2.7 billion deal with Evergreen Parent, L.P. under which the latter will acquire around 45% of AmTrust Financial's shares that are not presently owned or controlled by the Karfunkel-Zyskind Family and certain of its affiliates.

The company has seen no changes when it comes to estimate revision over the past few weeks, while the Zacks Consensus Estimate for the current quarter has also remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

AmTrust Financial currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

Investors interested in the Insurance - Property and Casualty industry may consider American Financial Group, Inc. (NYSE:AFG) , which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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