Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Rises By 20.7%

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,080,000 shares, a growth of 20.7% from the December 15th total of 894,600 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 374,500 shares, the short-interest ratio is currently 2.9 days.

James River Group Price Performance

Shares of JRVR opened at $4.79 on Friday. The firm has a 50-day simple moving average of $4.71 and a two-hundred day simple moving average of $6.25. James River Group has a 1-year low of $4.35 and a 1-year high of $11.49. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38.

James River Group (NASDAQ:JRVR) last posted its earnings results 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). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts anticipate that James River Group will post -0.35 EPS for the current year.

James River Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Monday, December 16th. James River Group’s payout ratio is -0.99%.

Wall Street Analyst Weigh In

Separately, JMP Securities cut their target price on James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a research note on Friday, December 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Hedge Funds Weigh In On James River Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in James River Group in the 3rd quarter valued at approximately $69,000. Sei Investments Co. acquired a new stake in shares of James River Group in the second quarter valued at $83,000. Quantinno Capital Management LP purchased a new position in James River Group in the third quarter valued at $122,000. Wealth Enhancement Advisory Services LLC acquired a new position in James River Group during the 3rd quarter worth $157,000. Finally, BBR Partners LLC purchased a new stake in James River Group during the 3rd quarter worth about $219,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

James River Group Company Profile

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.