AMERISAFE, Inc. (NASDAQ:AMSF) Short Interest Down 43.0% in September

AMERISAFE, Inc. (NASDAQ:AMSF - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 177,500 shares, a drop of 43.0% from the September 15th total of 311,600 shares. Based on an average daily volume of 123,300 shares, the short-interest ratio is currently 1.4 days. Approximately 1.0% of the shares of the stock are short sold. Approximately 1.0% of the shares of the stock are short sold. Based on an average daily volume of 123,300 shares, the short-interest ratio is currently 1.4 days.

AMERISAFE Stock Performance

AMSF stock opened at $41.78 on Tuesday. The stock has a market capitalization of $793.40 million, a P/E ratio of 15.83 and a beta of 0.32. AMERISAFE has a one year low of $40.03 and a one year high of $60.24. The company has a 50 day moving average price of $44.20 and a two-hundred day moving average price of $45.43.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.55 by ($0.02). The company had revenue of $79.70 million during the quarter, compared to analyst estimates of $77.30 million. AMERISAFE had a net margin of 16.46% and a return on equity of 16.54%. Research analysts forecast that AMERISAFE will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,343 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total transaction of $60,099.25. Following the completion of the transaction, the chief financial officer directly owned 2,253 shares of the company's stock, valued at $100,821.75. This trade represents a 37.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.61% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AMERISAFE

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of AMERISAFE in the 1st quarter valued at $509,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of AMERISAFE by 12.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,524 shares of the insurance provider's stock valued at $818,000 after purchasing an additional 1,731 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of AMERISAFE by 45.5% in the 1st quarter. Russell Investments Group Ltd. now owns 69,169 shares of the insurance provider's stock valued at $3,635,000 after purchasing an additional 21,628 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of AMERISAFE by 9.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 723,562 shares of the insurance provider's stock valued at $38,023,000 after purchasing an additional 61,767 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of AMERISAFE by 19.1% in the 1st quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock valued at $84,000 after purchasing an additional 257 shares during the last quarter. Institutional investors and hedge funds own 97.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AMSF shares. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. JMP Securities dropped their price objective on shares of AMERISAFE from $65.00 to $60.00 and set a "market outperform" rating for the company in a research note on Tuesday, October 14th. Truist Financial decreased their target price on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of AMERISAFE in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $55.00.

About AMERISAFE

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.

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