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

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the target of a large increase in short interest in the month of 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. Based on an average daily volume of 320,100 shares, the days-to-cover ratio is presently 3.2 days. Approximately 3.2% of the company’s shares are short sold.

James River Group Stock Down 3.0 %

James River Group stock traded down $0.14 during mid-day trading on Monday, reaching $4.55. The stock had a trading volume of 131,444 shares, compared to its average volume of 662,622. The company has a market capitalization of $172.13 million, a price-to-earnings ratio of -1.16 and a beta of 0.17. The company has a 50-day moving average price of $5.95 and a two-hundred day moving average price of $6.97. James River Group has a one year low of $4.35 and a one year high of $11.49. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65.

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

James River Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.88%. James River Group’s dividend payout ratio is currently -4.94%.

Wall Street Analyst Weigh In

JRVR has been the topic of a number of research reports. JMP Securities dropped 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 report on Tuesday, August 6th. Compass Point dropped 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 report on Wednesday, August 7th. Finally, Truist Financial dropped 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 report on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC lifted its position in James River Group by 2,512.5% in the second quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock worth $10,644,000 after buying an additional 1,324,309 shares during the last quarter. Vanguard Group Inc. increased its stake in James River Group by 22.9% in the first quarter. Vanguard Group Inc. now owns 2,579,287 shares of the insurance provider’s stock worth $23,987,000 after purchasing an additional 479,823 shares during the period. Marshall Wace LLP increased its stake in James River Group by 39.2% in the second quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after purchasing an additional 132,300 shares during the period. American Century Companies Inc. increased its stake in James River Group by 232.2% in the second quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock worth $1,326,000 after purchasing an additional 119,901 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in James River Group in the second quarter worth $812,000. 95.21% of the stock is currently owned by 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.