Short Interest in Ranger Bermuda Topco Ltd (NASDAQ:KG) Drops By 56.7%

Key Points

• Short interest in Ranger Bermuda Topco (NASDAQ:KG) plunged 56.7% in June, falling to 67,591 shares by June 30 from 155,925 shares two weeks earlier. That represents about 1.2% of the float and a 1.8-day cover ratio.
• An institutional investor, Advisory Services Network LLC, opened a new position in the company during the fourth quarter, buying 50,793 shares valued at about $520,000. Institutional ownership now stands at 21.78%.
• The stock recently traded at $10.06, near its 50-day average of $11.05, while the company continues to face a Sell consensus from analysts. The latest reported quarter showed EPS of ($1.34) on revenue of $10.19 million.

Ranger Bermuda Topco Ltd (NASDAQ:KG - Get Free Report) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 67,591 shares, a decline of 56.7% from the June 15th total of 155,925 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily volume of 38,519 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ranger Bermuda Topco stock. Advisory Services Network LLC bought a new position in shares of Ranger Bermuda Topco Ltd (NASDAQ:KG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 50,793 shares of the company's stock, valued at approximately $520,000. Advisory Services Network LLC owned 0.66% of Ranger Bermuda Topco at the end of the most recent quarter. Institutional investors own 21.78% of the company's stock.

Ranger Bermuda Topco Stock Performance

Shares of Ranger Bermuda Topco stock traded up $0.28 during midday trading on Tuesday, hitting $10.06. 17,909 shares of the company traded hands, compared to its average volume of 16,539. The business has a fifty day simple moving average of $11.05. The stock has a market capitalization of $78.71 million, a PE ratio of 0.90 and a beta of 0.71. Ranger Bermuda Topco has a 12 month low of $8.07 and a 12 month high of $31.61. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.75 and a current ratio of 0.75.

Ranger Bermuda Topco (NASDAQ:KG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The company reported ($1.34) EPS for the quarter. Ranger Bermuda Topco had a net margin of 91.44% and a negative return on equity of 27.09%. The company had revenue of $10.19 million during the quarter.

Analyst Upgrades and Downgrades

KG has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Ranger Bermuda Topco from a "sell (d-)" rating to a "sell (d)" rating in a research note on Monday, June 1st. Wall Street Zen cut shares of Ranger Bermuda Topco from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Ranger Bermuda Topco Company Profile

Kestrel Group Ltd specializes in providing fronting services to insurance program managers, MGAs, reinsurers and reinsurance brokers. Kestrel Group Ltd, formerly known as Maiden Holdings Ltd., is based in DALLAS.

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