Fidelis Insurance Holdings Limited (NYSE:FIHL) Sees Large Growth in Short Interest

Fidelis Insurance Holdings Limited (NYSE:FIHL - Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 2,590,000 shares, a growth of 32.1% from the December 31st total of 1,960,000 shares. Based on an average daily volume of 490,500 shares, the days-to-cover ratio is currently 5.3 days. Approximately 5.9% of the company's stock are short sold.

Fidelis Insurance Stock Performance

Shares of FIHL traded down $0.18 on Monday, reaching $16.33. 403,177 shares of the company's stock traded hands, compared to its average volume of 576,147. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.17. The stock has a market cap of $1.93 billion, a PE ratio of 4.12 and a beta of 0.49. The stock's 50 day simple moving average is $18.01 and its two-hundred day simple moving average is $18.01. Fidelis Insurance has a 52-week low of $12.43 and a 52-week high of $21.32.

Analyst Ratings Changes

A number of research firms have recently weighed in on FIHL. JPMorgan Chase & Co. dropped their target price on Fidelis Insurance from $21.00 to $20.00 and set a "neutral" rating on the stock in a report on Friday, January 3rd. Keefe, Bruyette & Woods dropped their target price on Fidelis Insurance from $26.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group reaffirmed a "sell" rating and set a $16.00 price target (down from $21.00) on shares of Fidelis Insurance in a research report on Wednesday, January 8th. Finally, Barclays decreased their price target on Fidelis Insurance from $21.00 to $20.00 and set an "equal weight" rating for the company in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.86.

Institutional Trading of Fidelis Insurance

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Fidelis Insurance by 76.4% in the third quarter. Wellington Management Group LLP now owns 3,078,157 shares of the company's stock worth $55,592,000 after buying an additional 1,332,896 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Fidelis Insurance by 12.8% in the third quarter. Loomis Sayles & Co. L P now owns 655,565 shares of the company's stock worth $11,839,000 after buying an additional 74,445 shares during the last quarter. Geode Capital Management LLC increased its position in Fidelis Insurance by 7.6% in the third quarter. Geode Capital Management LLC now owns 627,616 shares of the company's stock worth $11,335,000 after buying an additional 44,416 shares during the last quarter. Empowered Funds LLC increased its position in Fidelis Insurance by 21.9% in the fourth quarter. Empowered Funds LLC now owns 433,559 shares of the company's stock worth $7,860,000 after buying an additional 77,851 shares during the last quarter. Finally, Ghisallo Capital Management LLC increased its position in Fidelis Insurance by 1,038.8% in the second quarter. Ghisallo Capital Management LLC now owns 400,000 shares of the company's stock worth $6,524,000 after buying an additional 364,875 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

About Fidelis Insurance

Fidelis Insurance Holdings Limited, a specialty insurer, provides insurance and reinsurance solutions in Bermuda, the Republic of Ireland, and the United Kingdom. It operates in three segments: Specialty, Reinsurance, and Bespoke segments. The Specialty segment offers aviation and aerospace, energy, marine, property direct and facultative, and other specialty risk solutions.