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

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

Analyst Ratings Changes

JRVR has been the subject of several research reports. Truist Financial decreased their target price on James River Group from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Compass Point lowered their price objective on James River Group from $12.50 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, JMP Securities reduced their target price on shares of James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, James River Group presently has a consensus rating of “Hold” and an average target price of $11.17.

James River Group Stock Down 1.1 %

NASDAQ:JRVR traded down $0.07 during trading hours on Thursday, reaching $6.22. 216,100 shares of the company traded hands, compared to its average volume of 682,539. James River Group has a 1 year low of $6.12 and a 1 year high of $15.02. The stock has a market capitalization of $235.28 million, a P/E ratio of -2.98 and a beta of 0.16. The business’s 50-day moving average price is $6.67 and its two-hundred day moving average price is $7.51. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.37.

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

James River Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Monday, September 16th. James River Group’s payout ratio is -9.57%.

Hedge Funds Weigh In On James River Group

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in James River Group during the 3rd quarter valued at $69,000. Sei Investments Co. bought a new position in shares of James River Group during the second quarter valued at $83,000. Simplicity Wealth LLC purchased a new stake in shares of James River Group during the second quarter valued at $93,000. Levin Capital Strategies L.P. purchased a new stake in shares of James River Group during the first quarter valued at $93,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in James River Group in the 3rd quarter worth about $157,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

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.