James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,920,000 shares, an increase of 39.1% from the February 28th total of 1,380,000 shares. Based on an average daily trading volume, of 347,900 shares, the days-to-cover ratio is currently 5.5 days. Approximately 5.7% of the shares of the company are short sold.
Institutional Investors Weigh In On James River Group
Several institutional investors and hedge funds have recently added to or reduced their stakes in JRVR. Aquatic Capital Management LLC acquired a new stake in shares of James River Group in the fourth quarter valued at about $41,000. ProShare Advisors LLC purchased a new position in James River Group in the 4th quarter valued at about $51,000. Quantbot Technologies LP boosted its holdings in James River Group by 24.8% in the 4th quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider's stock worth $61,000 after buying an additional 2,498 shares during the last quarter. Intech Investment Management LLC purchased a new stake in James River Group during the 4th quarter worth approximately $68,000. Finally, SG Americas Securities LLC raised its holdings in shares of James River Group by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider's stock valued at $76,000 after acquiring an additional 4,586 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company's stock.
Analyst Ratings Changes
JRVR has been the subject of several research reports. Keefe, Bruyette & Woods decreased their price objective on shares of James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, March 13th. Truist Financial decreased their target price on shares of James River Group from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. JMP Securities cut their price target on James River Group from $11.00 to $8.00 and set a "market outperform" rating on the stock in a research report on Friday, December 20th. Citigroup reissued a "hold" rating on shares of James River Group in a report on Tuesday, March 11th. Finally, Compass Point dropped their target price on James River Group from $7.75 to $6.25 and set a "buy" rating on the stock in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $6.06.
Get Our Latest Analysis on JRVR
James River Group Price Performance
Shares of James River Group stock traded down $0.20 during trading hours on Thursday, reaching $4.03. The stock had a trading volume of 52,009 shares, compared to its average volume of 363,813. The stock's 50 day moving average is $4.48 and its 200 day moving average is $5.12. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. James River Group has a twelve month low of $3.00 and a twelve month high of $9.56. The firm has a market capitalization of $183.95 million, a PE ratio of -1.00 and a beta of 0.04.
James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.66). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The business had revenue of $126.71 million during the quarter, compared to analyst estimates of $159.91 million. During the same period in the previous year, the company posted $0.33 EPS. Equities analysts expect that James River Group will post -0.35 earnings per share for the current fiscal year.
James River Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.04 dividend on an annualized basis and a yield of 0.99%. James River Group's dividend payout ratio is currently -1.38%.
About James River Group
(
Get Free Report)
James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.
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