JMP Securities Reiterates Market Outperform Rating for James River Group (NASDAQ:JRVR)

James River Group (NASDAQ:JRVR)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a note issued to investors on Tuesday,Benzinga reports. They currently have a $8.00 target price on the insurance provider’s stock. JMP Securities’ target price would indicate a potential upside of 65.12% from the stock’s previous close.

Several other analysts also recently weighed in on JRVR. Citigroup reaffirmed a “hold” rating on shares of James River Group in a report on Tuesday, March 11th. Truist Financial cut their price target on shares of James River Group from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Tuesday, March 11th. StockNews.com downgraded James River Group from a “hold” rating to a “sell” rating in a research note on Wednesday, March 26th. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Compass Point reduced their target price on James River Group from $7.75 to $6.25 and set a “buy” rating on the stock in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, James River Group presently has a consensus rating of “Hold” and an average target price of $6.06.

James River Group Stock Down 1.3 %

JRVR traded down $0.07 during trading hours on Tuesday, hitting $4.85. 121,411 shares of the company’s stock were exchanged, compared to its average volume of 292,222. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.38. James River Group has a 12-month low of $3.00 and a 12-month high of $9.13. The firm has a market cap of $221.15 million, a P/E ratio of -1.20 and a beta of 0.02. The firm has a 50 day moving average of $4.23 and a 200 day moving average of $4.75.

James River Group (NASDAQ:JRVR) last posted its earnings results on Monday, May 5th. The insurance provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.05). James River Group had a negative net margin of 20.84% and a positive return on equity of 3.90%. The business had revenue of $172.29 million during the quarter, compared to analysts’ expectations of $184.15 million. Analysts predict that James River Group will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On James River Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aquatic Capital Management LLC bought a new position in shares of James River Group in the fourth quarter worth $41,000. ProShare Advisors LLC bought a new position in James River Group in the 4th quarter valued at about $51,000. Simplicity Wealth LLC bought a new stake in shares of James River Group during the 1st quarter worth about $51,000. Sowell Financial Services LLC acquired a new stake in shares of James River Group in the 1st quarter worth approximately $55,000. Finally, Quantbot Technologies LP boosted its holdings in shares of James River Group by 24.8% in the fourth quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider’s stock valued at $61,000 after acquiring an additional 2,498 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors and hedge funds.

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.