AMERISAFE (NASDAQ:AMSF) Stock Bumped Up to "Hold" by Zacks Research

Key Points

• Zacks Research upgraded AMERISAFE to “Hold” from “Strong Sell,” while the broader analyst consensus remains “Hold” with a $44.00 target price.
• AMERISAFE shares opened at $23.87, near their 52-week low of $23.20 and well below the 52-week high of $43.99. The company reported quarterly EPS of $0.44, missing estimates by $0.08, despite revenue exceeding expectations.
• Institutional investors own 97.41% of AMERISAFE’s stock, with several hedge funds and advisory firms recently increasing their positions or initiating new stakes.

AMERISAFE (NASDAQ:AMSF - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Other analysts also recently issued research reports about the company. Truist Financial dropped their price target on AMERISAFE from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Thursday, July 23rd. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Weiss Ratings lowered shares of AMERISAFE from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, AMERISAFE currently has an average rating of "Hold" and a consensus target price of $44.00.

AMERISAFE Stock Performance

AMERISAFE stock opened at $23.87 on Monday. AMERISAFE has a fifty-two week low of $23.20 and a fifty-two week high of $43.99. The stock has a market cap of $442.55 million, a P/E ratio of 9.62 and a beta of 0.23. The firm's fifty day moving average price is $26.77 and its 200-day moving average price is $30.37.

AMERISAFE (NASDAQ:AMSF - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The insurance provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The business had revenue of $91.97 million for the quarter, compared to the consensus estimate of $85.09 million. AMERISAFE had a net margin of 14.00% and a return on equity of 14.87%. Sell-side analysts predict that AMERISAFE will post 1.97 earnings per share for the current year.

Hedge Funds Weigh In On AMERISAFE

Large investors have recently modified their holdings of the company. Clearstead Advisors LLC boosted its stake in AMERISAFE by 142.4% in the fourth quarter. Clearstead Advisors LLC now owns 657 shares of the insurance provider's stock worth $25,000 after buying an additional 386 shares in the last quarter. Global Retirement Partners LLC bought a new position in AMERISAFE during the second quarter valued at approximately $26,000. Hantz Financial Services Inc. raised its stake in shares of AMERISAFE by 159.6% during the fourth quarter. Hantz Financial Services Inc. now owns 714 shares of the insurance provider's stock worth $27,000 after acquiring an additional 439 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of AMERISAFE by 5,714.3% during the first quarter. Parallel Advisors LLC now owns 814 shares of the insurance provider's stock worth $27,000 after acquiring an additional 800 shares in the last quarter. Finally, Allworth Financial LP bought a new stake in shares of AMERISAFE in the 2nd quarter worth approximately $38,000. 97.41% of the stock is owned by hedge funds and other institutional investors.

AMERISAFE Company Profile

AMERISAFE, Inc NASDAQ: AMSF is a specialty workers' compensation insurance company headquartered in DeRidder, Louisiana. Through its insurance subsidiaries, the company provides workers' compensation coverage to small and mid-sized employers whose operations involve relatively high workplace risks.

The company focuses on industries such as construction, trucking, logging, agriculture, manufacturing, oil and gas, and other hazardous occupations. Its services include workers' compensation underwriting, claims administration, workplace safety and loss-control services, and premium auditing.

AMERISAFE primarily serves employers across the southeastern and other selected regions of the United States.

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