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

by · The Markets Daily

James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Free Report) saw a large decrease in short interest in 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. Currently, 2.6% of the company’s shares are sold short. Based on an average daily volume of 269,500 shares, the short-interest ratio is presently 3.6 days.

Institutional Trading of James River Group

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of James River Group by 22.9% during the 1st quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after acquiring an additional 479,823 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of James River Group by 143.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 512,968 shares of the insurance provider’s stock worth $4,771,000 after acquiring an additional 302,257 shares in the last quarter. Marshall Wace LLP grew its stake in shares of James River Group by 39.2% during the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after acquiring an additional 132,300 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of James River Group by 232.2% during the 2nd quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock worth $1,326,000 after acquiring an additional 119,901 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

JRVR has been the topic of a number of research reports. JMP Securities cut 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. Truist Financial cut their target price on shares of James River Group from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, 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 report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.17.

Read Our Latest Stock Analysis on JRVR

James River Group Trading Down 1.3 %

Shares of NASDAQ:JRVR traded down $0.08 during mid-day trading on Tuesday, reaching $6.29. The 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 PE ratio of -3.01 and a beta of 0.16. The firm has a 50 day simple moving average of $6.69 and a two-hundred day simple moving average of $7.52. 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 has a twelve month low of $6.12 and a twelve month high of $15.02.

James River Group (NASDAQ:JRVR – Get Free Report) last announced its earnings results on Monday, August 5th. The insurance provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.09). The company 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%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. On average, research analysts predict that James River Group will post 1.85 EPS 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. Shareholders of record on Monday, September 16th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 3.18%. James River Group’s dividend payout ratio (DPR) is currently -9.57%.

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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