Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Grows By 10.2%

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 1,010,000 shares, an increase of 10.2% from the October 31st total of 916,500 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 320,100 shares, the short-interest ratio is presently 3.2 days.

James River Group Price Performance

JRVR stock opened at $4.50 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. James River Group has a 1-year low of $4.35 and a 1-year high of $11.49. The business has a 50-day moving average price of $5.91 and a 200 day moving average price of $6.94.

James River Group (NASDAQ:JRVR) last issued its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.89). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The business had revenue of $191.50 million for the quarter, compared to analysts’ expectations of $137.28 million. During the same period in the previous year, the business earned $0.48 earnings per share. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that James River Group will post -0.35 earnings per share for the current fiscal year.

James River Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, December 16th. James River Group’s payout ratio is -4.94%.

Analyst Ratings Changes

A number of brokerages have issued reports on JRVR. Compass Point decreased their price target on James River Group from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JMP Securities decreased their price target on James River Group from $14.00 to $11.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 6th. Finally, Truist Financial dropped 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of JRVR. Empowered Funds LLC grew its holdings in James River Group by 5.3% in the third quarter. Empowered Funds LLC now owns 112,641 shares of the insurance provider’s stock worth $706,000 after purchasing an additional 5,628 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in James River Group by 32.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 37,989 shares of the insurance provider’s stock valued at $355,000 after buying an additional 9,414 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of James River Group during the second quarter worth about $83,000. SG Americas Securities LLC acquired a new position in shares of James River Group during the third quarter valued at about $69,000. Finally, Los Angeles Capital Management LLC raised its position in shares of James River Group by 36.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 41,976 shares of the insurance provider’s stock valued at $263,000 after purchasing an additional 11,106 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

About James River Group

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.