James River Group Holdings, Ltd. (NASDAQ:JRVR) Short Interest Update

James River Group Holdings, Ltd. (NASDAQ:JRVR) experienced a notable rise in short interest during March. As of March 15th, the short interest stood at 1,920,000 shares, reflecting a 39.1% increase from the previous month's total of 1,380,000 shares on February 28th. With an average daily trading volume of 347,900 shares, the days-to-cover ratio now sits at 5.5 days. This indicates that approximately 5.7% of the stock's shares are currently sold short.

Wall Street Analyst Opinions

Several analysts have offered insights on James River Group recently. On March 11th, Citigroup reiterated a "hold" rating on the company's shares. Following that, on March 13th, Keefe, Bruyette & Woods reduced their price target from $6.00 to $5.00 while maintaining a "market perform" rating. Compass Point also lowered their target price from $7.75 to $6.25, advising a "buy" rating in a note dated March 10th. Meanwhile, JMP Securities decreased their target price from $11.00 to $8.00, retaining a "market outperform" rating. Finally, StockNews.com downgraded James River Group from "hold" to "sell" on Wednesday. Overall, one analyst has rated the stock as a sell, three have given it a hold rating, and two considered it a buy, resulting in an average rating of "Hold" and a mean target price of $6.06, according to data from MarketBeat.

James River Group's Stock Performance

On the trading front, James River Group shares fell by $0.11 during Friday’s trading session, bringing the shares to $4.25. The day saw a trading volume of 136,426 shares compared to the average volume of 368,574 shares. The company holds a debt-to-equity ratio of 0.38, with a quick ratio and current ratio both at 0.65. Over the past year, the stock's value fluctuated between a low of $3.00 and a high of $9.56. Its market capitalization stands at approximately $193.99 million, presenting a price-to-earnings (PE) ratio of -1.05 and a beta of 0.04. Currently, the 50-day moving average for the stock is set at $4.51, while the two-hundred day moving average is noted at $5.17.

Recent Earnings Release

On March 3rd, James River Group published its latest earnings report. The insurance provider reported an earnings per share (EPS) of ($0.99) for the quarter, falling short of the consensus estimate of ($0.33) by ($0.66). The company posted a negative net margin of 20.84% but managed to achieve a positive return on equity of 3.90%. Total revenue was reported at $126.71 million, contrasting with the anticipated figure of $159.91 million. In the same quarter last year, the company had earnings of $0.33 per share. Analysts estimate that James River Group will report an EPS of -0.35 for the current year.

Dividend Announcement by James River Group

The company has also announced a quarterly dividend, scheduled to be paid on March 31st. Shareholders who were on record as of March 10th will receive a dividend of $0.01 per share. This equates to an annualized dividend of $0.04, offering a yield of 0.94%. The ex-dividend date was also March 10th, and the company's payout ratio is recorded at -1.38%.

Institutional Investors and Hedge Fund Activity

Recently, several institutional investors and hedge funds have opted to increase or reduce their holdings in James River Group. Aquatic Capital Management LLC made a new investment in the stock during the fourth quarter, acquiring shares worth $41,000. ProShare Advisors LLC also bought a new position valued at approximately $51,000. Intech Investment Management LLC made a new stake in James River Group during the same period, valued at roughly $68,000. SG Americas Securities LLC increased its position by 41.6%, owning a total of 15,616 shares after buying additional shares during the fourth quarter. Currently, institutional investors and hedge funds own 95.21% of the stock.

About James River Group

James River Group Holdings, Ltd. provides specialized insurance services through its subsidiaries. It operates in two main segments: Excess and Surplus Lines, and Specialty Admitted Insurance. The Excess and Surplus Lines segment specifically underwrites liability and property insurance across the United States, including Puerto Rico and the Virgin Islands.

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