James River Group (NASDAQ:JRVR) Cut to Sell at Wall Street Zen

James River Group (NASDAQ:JRVR - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research firms also recently issued reports on JRVR. Citigroup reaffirmed a "hold" rating on shares of James River Group in a research note on Tuesday, March 11th. Keefe, Bruyette & Woods dropped their target price on James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a report on Thursday, March 13th. Compass Point dropped their target price on James River Group from $7.75 to $6.25 and set a "buy" rating for the company in a report on Monday, March 10th. JMP Securities reiterated a "market outperform" rating and issued a $8.00 target price on shares of James River Group in a report on Tuesday, May 6th. Finally, Truist Financial dropped their target price on James River Group from $6.00 to $5.00 and set a "hold" rating for the company in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, James River Group has a consensus rating of "Hold" and an average target price of $6.06.

James River Group Price Performance

NASDAQ:JRVR traded down $0.10 during trading hours on Friday, reaching $6.08. The stock had a trading volume of 429,616 shares, compared to its average volume of 325,765. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. James River Group has a 52 week low of $3.00 and a 52 week high of $8.99. The company has a 50 day moving average price of $4.62 and a two-hundred day moving average price of $4.61. The stock has a market capitalization of $279.03 million, a PE ratio of -1.50 and a beta of 0.02.

James River Group (NASDAQ:JRVR - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The insurance provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.05). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The firm had revenue of $172.29 million during the quarter, compared to the consensus estimate of $184.15 million. As a group, sell-side analysts anticipate that James River Group will post -0.35 earnings per share for the current fiscal year.

Insider Activity at James River Group

In other news, Director Christine Lasala bought 29,125 shares of the stock in a transaction on Monday, May 19th. The stock was acquired at an average cost of $5.23 per share, for a total transaction of $152,323.75. Following the acquisition, the director now owns 60,758 shares of the company's stock, valued at $317,764.34. This represents a 92.07% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter B. Migliorato bought 18,500 shares of the stock in a transaction on Tuesday, May 20th. The stock was purchased at an average price of $5.46 per share, with a total value of $101,010.00. Following the completion of the acquisition, the director now directly owns 39,201 shares in the company, valued at approximately $214,037.46. This trade represents a 89.37% increase in their position. The disclosure for this purchase can be found here. 16.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On James River Group

Hedge funds have recently made changes to their positions in the company. Deutsche Bank AG bought a new position in shares of James River Group in the 1st quarter worth $25,000. Aquatic Capital Management LLC bought a new position in shares of James River Group in the 4th quarter worth $41,000. ProShare Advisors LLC bought a new position in shares of James River Group in the 4th quarter worth $51,000. Simplicity Wealth LLC bought a new position in shares of James River Group in the 1st quarter worth $51,000. Finally, Sowell Financial Services LLC bought a new position in shares of James River Group in the 1st quarter worth $55,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.

About James River Group

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.