AlphaQuest LLC Increases Position in AMERISAFE, Inc. $AMSF

Key Points

• AlphaQuest LLC significantly increased its stake in AMERISAFE, Inc., raising its holdings by 175.2% during the second quarter, now owning 24,032 shares valued at approximately $1.05 million.
• Research firms have mixed views on AMERISAFE, with a consensus rating of "Hold" and an average price target of $55.00, after price targets were adjusted by several analysts in recent reports.
• The CFO of AMERISAFE recently sold 1,343 shares, reducing personal ownership by 37.35%, which raised questions about insiders' confidence in the stock.

AlphaQuest LLC grew its holdings in AMERISAFE, Inc. (NASDAQ:AMSF - Free Report) by 175.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 24,032 shares of the insurance provider's stock after buying an additional 15,299 shares during the period. AlphaQuest LLC owned 0.13% of AMERISAFE worth $1,051,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. R Squared Ltd raised its holdings in shares of AMERISAFE by 75.9% in the second quarter. R Squared Ltd now owns 8,262 shares of the insurance provider's stock valued at $361,000 after buying an additional 3,566 shares during the last quarter. Values First Advisors Inc. raised its holdings in AMERISAFE by 46.7% during the second quarter. Values First Advisors Inc. now owns 7,867 shares of the insurance provider's stock worth $344,000 after purchasing an additional 2,503 shares in the last quarter. Harbor Asset Planning Inc. purchased a new position in AMERISAFE during the second quarter worth about $113,000. Inspire Investing LLC raised its holdings in AMERISAFE by 35.7% during the second quarter. Inspire Investing LLC now owns 8,914 shares of the insurance provider's stock worth $390,000 after purchasing an additional 2,347 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its holdings in AMERISAFE by 9.9% during the second quarter. KLP Kapitalforvaltning AS now owns 16,700 shares of the insurance provider's stock worth $730,000 after purchasing an additional 1,500 shares in the last quarter. 97.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMSF. Weiss Ratings reissued a "hold (c)" rating on shares of AMERISAFE in a report on Friday. JMP Securities cut their price target on shares of AMERISAFE from $65.00 to $60.00 and set a "market outperform" rating for the company in a report on Tuesday, October 14th. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Finally, Truist Financial cut their price target on shares of AMERISAFE from $54.00 to $50.00 and set a "hold" rating for the company in a report on Monday, July 28th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, AMERISAFE currently has a consensus rating of "Hold" and an average price target of $55.00.

Insiders Place Their Bets

In other AMERISAFE news, CFO Anastasios Omiridis sold 1,343 shares of the company's 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 transaction, the chief financial officer directly owned 2,253 shares in the company, valued at approximately $100,821.75. This represents a 37.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.61% of the company's stock.

AMERISAFE Trading Down 1.1%

Shares of AMSF opened at $41.45 on Friday. The firm's 50-day moving average is $43.90 and its two-hundred day moving average is $45.27. AMERISAFE, Inc. has a twelve month low of $40.03 and a twelve month high of $60.24. The firm has a market capitalization of $787.14 million, a P/E ratio of 15.70 and a beta of 0.32.

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

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.

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