James River Group (NASDAQ:JRVR) Lowered to Hold Rating by Zacks Research

Key Points

• James River Group (NASDAQ:JRVR) has been downgraded by Zacks Research from a "strong-buy" to a "hold" rating, reflecting concerns about its stock performance.
• The company's EPS for the last quarter exceeded estimates at $0.23, but they reported negative margins and revenues falling short of expectations at $152.61 million.
• A majority of analysts classify James River Group's stock with a consensus rating of "hold," with an average price target of $6.06.

James River Group (NASDAQ:JRVR - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of James River Group in a research note on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, James River Group has an average rating of "Hold" and a consensus price target of $6.06.

James River Group Price Performance

JRVR opened at $5.38 on Monday. The firm has a market capitalization of $247.05 million, a PE ratio of -1.70 and a beta of 0.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.63 and a current ratio of 0.63. James River Group has a 52 week low of $3.00 and a 52 week high of $7.19. The company has a fifty day moving average price of $5.58 and a two-hundred day moving average price of $5.29.

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, topping the consensus estimate of $0.22 by $0.01. James River Group had a negative net margin of 13.50% and a negative return on equity of 1.97%. The company had revenue of $152.61 million for the quarter, compared to analysts' expectations of $176.46 million. As a group, analysts anticipate that James River Group will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On James River Group

Several hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG purchased a new position in shares of James River Group during the 1st quarter valued at approximately $25,000. Simplicity Wealth LLC acquired a new position in James River Group in the 1st quarter valued at about $51,000. Sowell Financial Services LLC acquired a new position in James River Group in the 1st quarter valued at about $55,000. Cerity Partners LLC purchased a new position in shares of James River Group in the 2nd quarter valued at about $61,000. Finally, BNP Paribas Financial Markets boosted its holdings in James River Group by 43.0% in the second quarter. BNP Paribas Financial Markets now owns 13,211 shares of the insurance provider's stock valued at $77,000 after purchasing an additional 3,971 shares in the last quarter. 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.

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