James River Group (NASDAQ:JRVR) Downgraded by Zacks Research to Strong Sell

Key Points

• Zacks Research downgraded James River Group from hold to strong sell, adding to a generally bearish analyst tone on the stock.
• The company’s latest quarterly results missed expectations, with EPS of $0.12 versus the $0.27 consensus and revenue of $151.38 million below estimates.
• JRVR shares were trading near $4.15, close to their 52-week low of $4.03, while the analyst consensus currently stands at Reduce with a $7.00 price target.

James River Group (NASDAQ:JRVR - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

JRVR has been the subject of a number of other reports. Weiss Ratings cut shares of James River Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday. Citizens Jmp restated a "market perform" rating on shares of James River Group in a research note on Tuesday. Truist Financial lifted their target price on shares of James River Group from $6.00 to $7.00 and gave the company a "hold" rating in a research note on Tuesday, March 3rd. Wall Street Zen cut shares of James River Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Citigroup cut shares of James River Group from a "hold" rating to a "market perform" rating in a research note on Tuesday. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $7.00.

James River Group Trading Down 3.5%

James River Group stock opened at $4.15 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.64 and a quick ratio of 0.65. The company has a market capitalization of $191.90 million, a price-to-earnings ratio of 12.21 and a beta of -0.03. James River Group has a one year low of $4.03 and a one year high of $7.20. The company's fifty day moving average price is $6.27 and its two-hundred day moving average price is $6.22.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its earnings results on Monday, May 4th. The insurance provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.15). The business had revenue of $151.38 million for the quarter, compared to analyst estimates of $155.07 million. James River Group had a return on equity of 10.79% and a net margin of 4.34%. On average, analysts forecast that James River Group will post 0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On James River Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC boosted its stake in shares of James River Group by 173.9% during the 4th quarter. Clearstead Advisors LLC now owns 7,732 shares of the insurance provider's stock worth $49,000 after buying an additional 4,909 shares during the last quarter. PharVision Advisers LLC acquired a new position in shares of James River Group during the 3rd quarter worth about $59,000. R Squared Ltd acquired a new position in shares of James River Group during the 3rd quarter worth about $60,000. Cerity Partners LLC acquired a new position in shares of James River Group during the 2nd quarter worth about $61,000. Finally, M&T Bank Corp acquired a new position in shares of James River Group during the 4th quarter worth about $65,000. 95.21% of the stock is owned by institutional investors and hedge funds.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.

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