Is NASDAQ:PLMR suited for growth investing?

In this article we will dive into PALOMAR HOLDINGS INC (NASDAQ:PLMR) as a possible candidate for growth investing. Investors should always do their own research, but we noticed PALOMAR HOLDINGS INC showing up in our CANSLIM growth screen, which makes it worth to investigate a bit more.

Why NASDAQ:PLMR may be interesting for canslim investors.

• The quarterly earnings of PALOMAR HOLDINGS INC have shown a 33.7% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• PALOMAR HOLDINGS INC has achieved 32.16% growth in its revenue over the previous quarter, signaling positive momentum in its financial performance and potential market opportunities.
• Over the past 3 years, PALOMAR HOLDINGS INC has demonstrated 115.0% growth in EPS, signifying its positive financial trajectory and potential for future profitability.
• PALOMAR HOLDINGS INC exhibits a strong Return on Equity (ROE) of 18.11%, indicating the company's ability to generate solid returns on shareholder investments. This metric reflects the company's efficient utilization of equity capital and its profitability.
• PALOMAR HOLDINGS INC has exhibited strong Relative Strength(RS) in recent periods, with a current 87.11 rating. This indicates the stock's ability to outperform the broader market and reflects its competitive position. PALOMAR HOLDINGS INC shows promising potential for continued price momentum.
• PALOMAR HOLDINGS INC exhibits a favorable Debt-to-Equity ratio at 0.0. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• The ownership composition of PALOMAR HOLDINGS INC reflects a balanced investor ecosystem, with institutional shareholders owning 83.88%. This indicates a broader market participation and potential for increased trading liquidity.

Technical Analysis Observations

ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.

We assign a technical rating of 10 out of 10 to PLMR. Both in the recent history as in the last year, PLMR has proven to be a steady performer, scoring decent points in every aspect analyzed.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, PLMR did better than 87% of all other stocks. We also observe that the gains produced by PLMR over the past year are nicely spread over this period.
• PLMR is one of the better performing stocks in the Insurance industry, it outperforms 87% of 140 stocks in the same industry.
• A new 52 week high is currently being made by PLMR, which is a very good signal! However, this is in line with the S&P500, which is also trading near new highs.
• In the last month PLMR has a been trading in the 85.00 - 107.00 range, which is quite wide. It is currently trading near the high of this range.
• Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
• Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

For an up to date full technical analysis you can check the technical report of PLMR

Fundamental Analysis Observations

ChartMill assigns a Fundamental Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple fundamental indicators and properties.

We assign a fundamental rating of 6 out of 10 to PLMR. PLMR was compared to 140 industry peers in the Insurance industry. PLMR has an excellent profitability rating, but there are some minor concerns on its financial health. PLMR is showing excellent growth while it is valued at reasonable prices. Keep and eye on this one!

For an up to date full fundamental analysis you can check the fundamental report of PLMR

Our CANSLIM screen will find you more ideas suited for growth investing.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.