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

James River Group Holdings, Ltd. (NASDAQ:JRVR) saw a significant increase in short interest during 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. Currently, 3.2% of the shares of the company are short sold. Based on an average daily volume of 320,100 shares, the days-to-cover ratio is presently 3.2 days.

James River Group Stock Down 0.2 %

Shares of NASDAQ JRVR opened at $4.50 on Wednesday. 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 quick ratio of 0.65 and a current ratio of 0.65. The company’s fifty day moving average is $5.91 and its two-hundred day moving average is $6.94.

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

James River Group Cuts Dividend

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

Hedge Funds Weigh In On James River Group

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position 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 purchasing an additional 479,823 shares during the last quarter. American Century Companies Inc. increased its position in 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 purchasing an additional 119,901 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in James River Group in the 3rd quarter valued at about $157,000. AQR Capital Management LLC lifted its holdings in James River Group by 2,512.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock valued at $10,644,000 after purchasing an additional 1,324,309 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of James River Group during the second quarter worth about $655,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on JRVR. 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 research report on Wednesday, August 7th. Compass Point lowered 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. Finally, JMP Securities decreased their price objective on James River Group from $14.00 to $11.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.