AMERISAFE (NASDAQ:AMSF) Cut to Sell at Wall Street Zen

Key Points

• AMERISAFE has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in analyst sentiment regarding the stock's performance.
• Truist Financial has lowered its price target for AMERISAFE from $54.00 to $50.00, while JMP Securities maintains a more optimistic target of $65.00.
• In recent trading, AMERISAFE's shares opened at $44.79, with a notable market cap of $850.56 million and a quarterly earnings report that revealed a miss on earnings per share projections.

AMERISAFE (NASDAQ:AMSF - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other research analysts have also weighed in on the stock. JMP Securities restated a "market outperform" rating and set a $65.00 price objective on shares of AMERISAFE in a research note on Wednesday, April 30th. Truist Financial lowered their price objective on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, July 28th.

AMERISAFE Price Performance

AMSF stock traded up $0.51 during midday trading on Friday, hitting $45.99. The company's stock had a trading volume of 14,349 shares, compared to its average volume of 105,814. AMERISAFE has a twelve month low of $42.48 and a twelve month high of $60.24. The company's fifty day moving average price is $44.51 and its 200 day moving average price is $47.74. The stock has a market capitalization of $873.35 million, a P/E ratio of 17.42 and a beta of 0.39.

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

Insider Activity at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,343 shares of AMERISAFE stock in a transaction dated 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 sale, the chief financial officer owned 2,253 shares of the company's stock, valued at approximately $100,821.75. The trade was a 37.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.61% of the company's stock.

Institutional Trading of AMERISAFE

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of AMERISAFE by 170.5% during the second quarter. Signaturefd LLC now owns 779 shares of the insurance provider's stock worth $34,000 after buying an additional 491 shares during the period. Lazard Asset Management LLC bought a new position in shares of AMERISAFE during the fourth quarter valued at about $43,000. PNC Financial Services Group Inc. increased its holdings in AMERISAFE by 301.6% during the first quarter. PNC Financial Services Group Inc. now owns 1,554 shares of the insurance provider's stock worth $82,000 after buying an additional 1,167 shares during the last quarter. GAMMA Investing LLC increased its holdings in AMERISAFE by 19.1% during the first quarter. GAMMA Investing LLC now owns 1,600 shares of the insurance provider's stock worth $84,000 after buying an additional 257 shares during the last quarter. Finally, Harbor Asset Planning Inc. purchased a new position in shares of AMERISAFE in the second quarter worth about $113,000. Institutional investors own 97.41% of the company's stock.

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.