PN issued the following which I read as just telling the public they might sell the company. This was feeling like a short term play.
(NYSE: PN) (“Patriot National” or the “Company”) formed a committee of independent directors (“Committee”) to oversee strategic value creating initiatives. The Committee continues to explore strategic alternatives for the Company to maximize value for shareholders, including a possible sale of the Company. Neither the Committee nor the Board has made a decision to enter into any transaction or other alternative at this time, and there are no assurances that the consideration of strategic alternatives will result in the Company entering into a transaction or other alternative. The Committee has not has not set a timetable for completion of the evaluation process.