Short Interest in James River Group Holdings, Ltd. (NASDAQ:JRVR) Decreases By 21.8%

Key Points

• James River Group Holdings experienced a significant decline in short interest of 21.8% in August, with current short interest at 1,150,000 shares, equivalent to 3.2% of its total shares.
• The company was recently upgraded from a "sell" to a "hold" rating, with a consensus rating of "Hold" and an average target price of $6.06 from analysts.
• James River Group announced a quarterly dividend of $0.01 per share to be paid on September 30th, representing a 0.8% dividend yield.

James River Group Holdings, Ltd. (NASDAQ:JRVR - Get Free Report) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 1,150,000 shares, a drop of 21.8% from the August 15th total of 1,470,000 shares. Based on an average trading volume of 242,800 shares, the short-interest ratio is presently 4.7 days. Currently, 3.2% of the company's shares are short sold. Currently, 3.2% of the company's shares are short sold. Based on an average trading volume of 242,800 shares, the short-interest ratio is presently 4.7 days.

James River Group Price Performance

Shares of JRVR stock traded up $0.04 during trading hours on Monday, hitting $5.46. 156,399 shares of the company's stock were exchanged, compared to its average volume of 272,847. The firm has a market cap of $250.72 million, a P/E ratio of -1.73 and a beta of 0.03. James River Group has a fifty-two week low of $3.00 and a fifty-two week high of $7.19. The firm has a 50 day moving average of $5.62 and a two-hundred day moving average of $5.16. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.46.

James River Group (NASDAQ:JRVR - Get Free Report) last announced its earnings results on Monday, August 4th. The insurance provider reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $0.01. The business had revenue of $152.61 million during the quarter, compared to analysts' expectations of $176.46 million. James River Group had a negative return on equity of 1.97% and a negative net margin of 13.50%. Sell-side analysts forecast that James River Group will post -0.35 EPS for the current year.

James River Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, September 15th. James River Group's dividend payout ratio is -1.27%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded James River Group from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $6.06.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JRVR. Ameriprise Financial Inc. increased its stake in shares of James River Group by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 97,492 shares of the insurance provider's stock worth $571,000 after acquiring an additional 2,357 shares during the period. Jane Street Group LLC raised its position in James River Group by 13.0% in the first quarter. Jane Street Group LLC now owns 25,297 shares of the insurance provider's stock worth $106,000 after acquiring an additional 2,918 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in James River Group by 22.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,028 shares of the insurance provider's stock valued at $102,000 after acquiring an additional 3,839 shares during the period. BNP Paribas Financial Markets boosted its position in shares of James River Group by 43.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider's stock worth $77,000 after purchasing an additional 3,971 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its stake in shares of James River Group by 11.2% during the 2nd quarter. Bridgeway Capital Management LLC now owns 57,800 shares of the insurance provider's stock worth $339,000 after purchasing an additional 5,800 shares during the period. Hedge funds and other institutional investors own 95.21% of the company's stock.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.