James River Group Holdings, Ltd. (NASDAQ:JRVR) Short Interest Down 12.6% in October

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 961,900 shares, a decrease of 12.6% from the September 30th total of 1,100,000 shares. Based on an average daily volume of 269,500 shares, the days-to-cover ratio is presently 3.6 days. Currently, 2.6% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Compass Point cut their target price on shares of James River Group from $12.50 to $12.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Truist Financial cut their target price on shares of James River Group from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, August 7th. Finally, JMP Securities cut their target price on shares of James River Group from $14.00 to $11.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $11.17.

James River Group Stock Performance

James River Group stock traded down $0.08 on Tuesday, hitting $6.29. The company's stock had a trading volume of 147,655 shares, compared to its average volume of 687,206. The firm has a market cap of $237.93 million, a P/E ratio of -3.01 and a beta of 0.16. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.37. The company has a fifty day moving average price of $6.69 and a 200-day moving average price of $7.52. James River Group has a one year low of $6.12 and a one year high of $15.02.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.09). The business had revenue of $188.30 million during the quarter, compared to the consensus estimate of $169.39 million. James River Group had a negative net margin of 12.79% and a positive return on equity of 11.66%. The company's quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. On average, equities analysts anticipate that James River Group will post 1.85 earnings per share for the current year.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, September 16th. James River Group's payout ratio is -9.57%.

Institutional Investors Weigh In On James River Group

Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of James River Group in the 3rd quarter worth about $157,000. Perpetual Ltd grew its holdings in James River Group by 33.3% during the 3rd quarter. Perpetual Ltd now owns 140,000 shares of the insurance provider's stock worth $878,000 after acquiring an additional 35,000 shares during the last quarter. CWM LLC grew its holdings in James River Group by 40.7% during the 3rd quarter. CWM LLC now owns 38,890 shares of the insurance provider's stock worth $244,000 after acquiring an additional 11,254 shares during the last quarter. SG Americas Securities LLC bought a new stake in James River Group during the 3rd quarter worth about $69,000. Finally, AQR Capital Management LLC grew its holdings in James River Group by 2,512.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider's stock worth $10,644,000 after acquiring an additional 1,324,309 shares during the last quarter. Institutional investors own 95.21% of the company's stock.

James River Group Company Profile

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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