AMERISAFE (NASDAQ:AMSF) Shares Gap Down After Earnings Miss

AMERISAFE, Inc. (NASDAQ:AMSF) shares gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $49.68, but opened at $47.35. AMERISAFE shares last traded at $48.24, with a volume of 10,754 shares trading hands.

The insurance provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.03). The firm had revenue of $75.83 million for the quarter, compared to the consensus estimate of $74.20 million. AMERISAFE had a return on equity of 16.76% and a net margin of 19.97%. During the same period in the prior year, the company posted $0.73 earnings per share.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AMSF shares. JMP Securities restated a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a report on Monday, April 15th. StockNews.com raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th.

Insider Activity

In other news, Director Michael J. Brown acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $43.52 per share, with a total value of $43,520.00. Following the transaction, the director now directly owns 10,055 shares in the company, valued at approximately $437,593.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.45% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AMSF. Illinois Municipal Retirement Fund lifted its stake in shares of AMERISAFE by 2.9% during the 4th quarter. Illinois Municipal Retirement Fund now owns 10,967 shares of the insurance provider’s stock worth $513,000 after buying an additional 314 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of AMERISAFE by 22.0% during the 1st quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock worth $104,000 after buying an additional 376 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of AMERISAFE by 8.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 8,680 shares of the insurance provider’s stock worth $406,000 after buying an additional 700 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AMERISAFE by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,852 shares of the insurance provider’s stock worth $695,000 after buying an additional 755 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of AMERISAFE by 26.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,901 shares of the insurance provider’s stock worth $182,000 after buying an additional 828 shares during the last quarter. Institutional investors own 97.41% of the company’s stock.

AMERISAFE Trading Down 2.9 %

The business’s 50 day moving average price is $44.61 and its 200-day moving average price is $47.53. The company has a market cap of $923.31 million, a price-to-earnings ratio of 15.48 and a beta of 0.33.

AMERISAFE Company Profile

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.