James River Group Holdings, Ltd. (NASDAQ:JRVR) Short Interest Up 20.7% in December

James River Group Holdings, Ltd. (NASDAQ:JRVR) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,080,000 shares, an increase of 20.7% from the December 15th total of 894,600 shares. Currently, 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 374,500 shares, the days-to-cover ratio is currently 2.9 days.

James River Group Price Performance

NASDAQ JRVR traded up $0.02 during trading on Friday, reaching $4.79. 153,733 shares of the company traded hands, compared to its average volume of 353,459. James River Group has a 1-year low of $4.35 and a 1-year high of $11.49. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50 day moving average price is $4.71 and its two-hundred day moving average price is $6.25. The company has a market cap of $181.21 million, a price-to-earnings ratio of -1.18 and a beta of 0.06.

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

James River Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.84%. The ex-dividend date was Monday, December 16th. James River Group’s payout ratio is presently -0.99%.

Institutional Investors Weigh In On James River Group

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of James River Group in the third quarter valued at approximately $69,000. Sei Investments Co. acquired a new position in James River Group in the 2nd quarter worth $83,000. Quantinno Capital Management LP bought a new position in James River Group during the 3rd quarter worth about $122,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of James River Group in the 3rd quarter valued at about $157,000. Finally, BBR Partners LLC bought a new stake in shares of James River Group in the third quarter valued at about $219,000. 95.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities decreased their target price on shares of James River Group from $11.00 to $8.00 and set a “market outperform” rating for the company in a research report on Friday, December 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.40.

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.