James River Group Holdings, Ltd. (NASDAQ:JRVR) Sees Significant Decrease in Short Interest

James River Group Holdings, Ltd. (NASDAQ:JRVR) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,100,000 shares, a decrease of 6.8% from the September 15th total of 1,180,000 shares. Based on an average daily volume of 291,100 shares, the short-interest ratio is presently 3.8 days. Approximately 3.0% of the company’s shares are short sold.

James River Group Stock Up 2.7 %

Shares of JRVR stock traded up $0.18 on Wednesday, reaching $6.78. 39,468 shares of the stock were exchanged, compared to its average volume of 707,256. The company has a market capitalization of $256.46 million, a price-to-earnings ratio of -3.16 and a beta of 0.16. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average price is $6.82 and its 200 day moving average price is $7.66. James River Group has a twelve month low of $6.12 and a twelve month high of $15.47.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, August 5th. The insurance provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.09). The business had revenue of $188.30 million for the quarter, compared to analyst estimates of $169.39 million. James River Group had a positive return on equity of 11.66% and a negative net margin of 12.79%. James River Group’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. As a group, sell-side analysts expect that James River Group will post 1.85 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, September 16th. James River Group’s dividend payout ratio (DPR) is -9.57%.

Institutional Investors Weigh In On James River Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in James River Group in the third quarter valued at $69,000. Sei Investments Co. acquired a new position in James River Group during the second quarter worth approximately $83,000. Simplicity Wealth LLC purchased a new stake in James River Group in the second quarter valued at approximately $93,000. Levin Capital Strategies L.P. acquired a new stake in shares of James River Group in the first quarter valued at approximately $93,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of James River Group in the second quarter valued at approximately $170,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on JRVR. Compass Point cut their target price on shares of James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. JMP Securities decreased their target price on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a report on Tuesday, August 6th. Finally, Truist Financial cut their price target on James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.17.

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.