Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Rises By 54.1%

Key Points

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AMERISAFE, Inc. (NASDAQ:AMSF - Get Free Report) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 315,500 shares, anincreaseof54.1% from the July 15th total of 204,800 shares. Approximately1.7% of the shares of the company are short sold. Based on an average daily volume of 127,100 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily volume of 127,100 shares, the days-to-cover ratio is currently 2.5 days. Approximately1.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $65.00 target price on shares of AMERISAFE in a report on Wednesday, April 30th. Wall Street Zen raised shares of AMERISAFE from a "sell" rating to a "hold" rating in a report on Sunday. 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.

AMERISAFE Stock Performance

Shares of NASDAQ AMSF opened at $45.16 on Tuesday. The firm has a market cap of $857.63 million, a PE ratio of 17.11 and a beta of 0.39. The firm has a fifty day moving average of $44.49 and a 200 day moving average of $47.58. AMERISAFE has a one year low of $42.48 and a one year high of $60.24.

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

AMERISAFE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, September 12th. AMERISAFE's payout ratio is presently 59.09%.

Insider Buying and Selling at AMERISAFE

In other news, CFO Anastasios Omiridis sold 1,343 shares of AMERISAFE stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total transaction of $60,099.25. Following the completion of the transaction, the chief financial officer directly owned 2,253 shares of the company's stock, valued at $100,821.75. The trade was a 37.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMERISAFE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in AMERISAFE during the 1st quarter worth $8,466,000. Qube Research & Technologies Ltd acquired a new stake in AMERISAFE during the 2nd quarter worth $4,345,000. Goldman Sachs Group Inc. boosted its stake in AMERISAFE by 82.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 217,280 shares of the insurance provider's stock worth $11,418,000 after purchasing an additional 98,293 shares during the last quarter. Royce & Associates LP boosted its stake in AMERISAFE by 29.6% during the 1st quarter. Royce & Associates LP now owns 395,756 shares of the insurance provider's stock worth $20,797,000 after purchasing an additional 90,395 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in AMERISAFE by 6,160.6% during the 1st quarter. GAMMA Investing LLC now owns 84,080 shares of the insurance provider's stock worth $4,418,000 after purchasing an additional 82,737 shares during the last quarter. Hedge funds and other institutional investors own 97.41% of the company's stock.

About AMERISAFE

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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