AMERISAFE, Inc. (NASDAQ:AMSF) Sees Significant Decline in Short Interest

AMERISAFE, Inc. (NASDAQ:AMSF) was the recipient of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 209,880 shares, a decrease of 23.4% from the December 31st total of 274,038 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 148,408 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 148,408 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In related news, CFO Anastasios Omiridis sold 1,247 shares of AMERISAFE stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $40.21, for a total value of $50,141.87. Following the completion of the transaction, the chief financial officer directly owned 2,539 shares of the company’s stock, valued at $102,093.19. The trade was a 32.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMERISAFE

Several large investors have recently modified their holdings of AMSF. Millennium Management LLC increased its holdings in AMERISAFE by 176.3% in the third quarter. Millennium Management LLC now owns 191,825 shares of the insurance provider’s stock worth $8,410,000 after purchasing an additional 122,387 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of AMERISAFE during the fourth quarter valued at approximately $4,145,000. Qube Research & Technologies Ltd bought a new position in shares of AMERISAFE during the second quarter valued at about $4,345,000. Goldman Sachs Group Inc. lifted its position in shares of 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 buying an additional 98,293 shares in the last quarter. Finally, Royce & Associates LP boosted its position in AMERISAFE by 21.3% in the third quarter. Royce & Associates LP now owns 555,621 shares of the insurance provider’s stock worth $24,358,000 after purchasing an additional 97,434 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

AMERISAFE Stock Performance

Shares of NASDAQ AMSF opened at $37.61 on Friday. The stock’s fifty day moving average is $38.47 and its 200 day moving average is $41.72. AMERISAFE has a 52 week low of $36.23 and a 52 week high of $53.27. The stock has a market capitalization of $711.58 million, a P/E ratio of 14.41 and a beta of 0.36.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Wednesday, October 29th. The insurance provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The firm had revenue of $71.29 million for the quarter, compared to analysts’ expectations of $78.29 million. AMERISAFE had a return on equity of 16.94% and a net margin of 16.12%. Equities research analysts forecast that AMERISAFE will post 2.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMSF shares. Citigroup reaffirmed a “market outperform” rating on shares of AMERISAFE in a research note on Friday, January 16th. Morgan Stanley set a $55.00 price target on shares of AMERISAFE in a research note on Friday, January 16th. Citizens Jmp reduced their price objective on AMERISAFE from $60.00 to $55.00 and set a “market outperform” rating for the company in a research report on Friday, January 16th. Wall Street Zen upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Saturday. Finally, JMP Securities decreased their price target on AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.00.

About AMERISAFE

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.