AMERISAFE, Inc. (NASDAQ:AMSF) Sees Large Decline in Short Interest

AMERISAFE, Inc. (NASDAQ:AMSF - Get Free Report) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totalling 199,300 shares, a decline of 21.3% from the December 31st total of 253,200 shares. Approximately 1.1% of the company's shares are sold short. Based on an average daily trading volume, of 110,800 shares, the short-interest ratio is currently 1.8 days.

AMERISAFE Price Performance

AMSF traded down $0.01 during midday trading on Monday, reaching $50.01. 49,843 shares of the company's stock traded hands, compared to its average volume of 72,653. AMERISAFE has a 52 week low of $41.97 and a 52 week high of $60.24. The firm has a fifty day moving average of $52.77 and a two-hundred day moving average of $51.37. The stock has a market capitalization of $952.61 million, a price-to-earnings ratio of 15.63 and a beta of 0.35.

Hedge Funds Weigh In On AMERISAFE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. purchased a new position in AMERISAFE during the 3rd quarter valued at $28,000. Quarry LP raised its stake in AMERISAFE by 1,028.4% in the second quarter. Quarry LP now owns 756 shares of the insurance provider's stock worth $33,000 after buying an additional 689 shares in the last quarter. GAMMA Investing LLC lifted its holdings in AMERISAFE by 97.1% in the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider's stock worth $40,000 after buying an additional 405 shares during the period. R Squared Ltd bought a new stake in AMERISAFE during the 4th quarter valued at approximately $99,000. Finally, Virtu Financial LLC purchased a new position in shares of AMERISAFE during the 3rd quarter worth approximately $200,000. Institutional investors own 97.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AMSF shares. JMP Securities restated a "market outperform" rating and set a $65.00 target price on shares of AMERISAFE in a report on Tuesday, October 15th. Truist Financial increased their price objective on AMERISAFE from $48.00 to $54.00 and gave the company a "hold" rating in a research note on Friday, October 25th.

AMERISAFE Company Profile

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.