JMP Securities Lowers James River Group (NASDAQ:JRVR) Price Target to $8.00

James River Group (NASDAQ:JRVR) had its price target cut by stock analysts at JMP Securities from $11.00 to $8.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the insurance provider’s stock. JMP Securities’ target price indicates a potential upside of 73.54% from the company’s current price.

James River Group Stock Performance

JRVR opened at $4.61 on Friday. The business has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $6.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.65 and a quick ratio of 0.65. The company has a market capitalization of $174.39 million, a price-to-earnings ratio of -1.14 and a beta of 0.09. James River Group has a 1-year low of $4.35 and a 1-year high of $11.49.

James River Group (NASDAQ:JRVR) last announced its quarterly earnings data on Monday, November 11th. The insurance provider reported ($0.74) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.89). The firm had revenue of $191.50 million during the quarter, compared to analyst estimates of $137.28 million. James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.48 EPS. Research analysts predict that James River Group will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of James River Group by 2,512.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,377,017 shares of the insurance provider’s stock worth $10,644,000 after acquiring an additional 1,324,309 shares in the last quarter. RBF Capital LLC boosted its position in shares of James River Group by 4.2% in the 3rd quarter. RBF Capital LLC now owns 1,073,828 shares of the insurance provider’s stock valued at $6,733,000 after purchasing an additional 42,946 shares during the period. Marshall Wace LLP increased its stake in James River Group by 39.2% in the 2nd quarter. Marshall Wace LLP now owns 469,963 shares of the insurance provider’s stock worth $3,633,000 after purchasing an additional 132,300 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in James River Group by 7.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 275,519 shares of the insurance provider’s stock worth $2,130,000 after buying an additional 20,085 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of James River Group by 232.2% in the second quarter. American Century Companies Inc. now owns 171,529 shares of the insurance provider’s stock worth $1,326,000 after buying an additional 119,901 shares during the period. Institutional investors and hedge funds own 95.21% of the company’s stock.

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.