Ryan Specialty (NYSE:RYAN) Shares Gap Down After Earnings Miss

Ryan Specialty Holdings, Inc. (NYSE:RYAN) gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $68.60, but opened at $62.50. Ryan Specialty shares last traded at $66.02, with a volume of 362,389 shares changing hands.

The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The business had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a return on equity of 47.90% and a net margin of 10.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays raised their target price on Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Morgan Stanley started coverage on Ryan Specialty in a research report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price objective on the stock. Keefe, Bruyette & Woods reduced their target price on Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Ryan Specialty from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Ryan Specialty currently has a consensus rating of “Hold” and a consensus target price of $74.80.

Insider Transactions at Ryan Specialty

In other news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $67.39, for a total transaction of $2,358,650.00. Following the sale, the director now directly owns 65,100 shares of the company’s stock, valued at $4,387,089. This represents a 34.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 316,451 shares of company stock worth $20,907,793. Insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Ryan Specialty by 12.3% during the 3rd quarter. Signaturefd LLC now owns 1,347 shares of the company’s stock valued at $89,000 after acquiring an additional 148 shares during the last quarter. Mariner LLC increased its holdings in Ryan Specialty by 3.4% in the fourth quarter. Mariner LLC now owns 5,278 shares of the company’s stock valued at $339,000 after purchasing an additional 172 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Ryan Specialty by 1.2% in the fourth quarter. Sanctuary Advisors LLC now owns 15,690 shares of the company’s stock valued at $1,045,000 after buying an additional 188 shares during the period. State of Alaska Department of Revenue boosted its holdings in Ryan Specialty by 1.6% during the fourth quarter. State of Alaska Department of Revenue now owns 12,130 shares of the company’s stock worth $778,000 after buying an additional 190 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Ryan Specialty by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 3,674 shares of the company’s stock worth $236,000 after buying an additional 196 shares during the period. Institutional investors own 84.82% of the company’s stock.

Ryan Specialty Trading Down 4.1 %

The business has a 50 day moving average price of $65.61 and a 200 day moving average price of $67.26. The company has a market capitalization of $17.23 billion, a P/E ratio of 85.49, a PEG ratio of 1.21 and a beta of 0.72. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty Company Profile

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.