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

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totalling 1,340,000 shares, a decline of 6.3% from the June 15th total of 1,430,000 shares. Currently, 3.7% of the shares of the company are short sold. Based on an average trading volume of 477,000 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Trading of James River Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. purchased a new position in shares of James River Group during the 1st quarter valued at $93,000. Simplicity Wealth LLC purchased a new position in shares of James River Group in the second quarter valued at about $93,000. Quadrature Capital Ltd bought a new position in shares of James River Group in the first quarter worth about $172,000. CWM LLC boosted its stake in shares of James River Group by 1,902.6% in the second quarter. CWM LLC now owns 27,636 shares of the insurance provider’s stock worth $214,000 after acquiring an additional 26,256 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of James River Group by 24,641.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,247 shares of the insurance provider’s stock worth $225,000 after purchasing an additional 24,149 shares in the last quarter. 95.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on JRVR. JMP Securities lowered their price objective on shares of James River Group from $15.00 to $14.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Compass Point upgraded shares of James River Group from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.17.

James River Group Stock Performance

James River Group stock traded up $0.05 during trading on Wednesday, reaching $8.52. The company had a trading volume of 179,927 shares, compared to its average volume of 914,295. The firm has a market capitalization of $322.31 million, a price-to-earnings ratio of -4.05 and a beta of 0.17. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $7.70 and its 200 day simple moving average is $8.60. James River Group has a 52 week low of $6.35 and a 52 week high of $19.07.

James River Group (NASDAQ:JRVR) last posted its quarterly earnings data on Wednesday, May 8th. The insurance provider reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. The firm had revenue of $201.13 million for the quarter, compared to the consensus estimate of $172.26 million. James River Group had a positive return on equity of 12.85% and a negative net margin of 10.56%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Sell-side analysts forecast that James River Group will post 1.75 earnings per share for the current fiscal year.

James River Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Monday, June 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Monday, June 10th. James River Group’s dividend payout ratio is currently -9.57%.

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.