Donegal Group, Inc. (NASDAQ:DGICB) Short Interest Update

Key Points

• Short interest in Donegal surged 93.2% in March to 8,354 shares as of March 31, with a days-to-cover ratio of about 2.7 days based on average daily volume of 3,065 shares (reported short interest remains 0.0% of shares outstanding).
• Raymond James initiated a new stake of 5,231 shares (~$93,000) in Q2, while overall institutional and hedge fund ownership is low at roughly 1.19%.
• Analysts hold a consensus Hold rating (Weiss Ratings reissued "Hold (c)"); Donegal trades at a PE of about 8.5 with a market cap near $648 million.

Donegal Group, Inc. (NASDAQ:DGICB - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 8,354 shares, an increase of 93.2% from the March 15th total of 4,325 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily volume of 3,065 shares, the days-to-cover ratio is presently 2.7 days.

Hedge Funds Weigh In On Donegal Group

A hedge fund recently bought a new stake in Donegal Group stock. Raymond James Financial Inc. purchased a new position in Donegal Group, Inc. (NASDAQ:DGICB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,231 shares of the insurance provider's stock, valued at approximately $93,000. 1.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Donegal Group in a research note on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Donegal Group has an average rating of "Hold".

Donegal Group Price Performance

Shares of Donegal Group stock opened at $17.51 on Monday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $647.87 million, a PE ratio of 8.54 and a beta of 0.04. The business has a 50 day moving average of $16.58 and a 200 day moving average of $16.37. Donegal Group has a 52 week low of $13.84 and a 52 week high of $20.46.

Donegal Group (NASDAQ:DGICB - Get Free Report) last announced its earnings results on Thursday, February 19th. The insurance provider reported $0.46 EPS for the quarter. The company had revenue of $241.87 million during the quarter. Donegal Group had a return on equity of 12.81% and a net margin of 8.11%.

About Donegal Group

Donegal Group Inc, an insurance holding company, provides personal and commercial lines of property and casualty insurance to businesses and individuals in the Mid-Atlantic, Midwestern, New England, and southern states. It operates through four segments: Investment Function, Personal Lines of Insurance, and Commercial Lines of Insurance. The company offers private passenger automobile policies that provide protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles.

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