AMERISAFE, Inc. (NASDAQ:AMSF) Sees Large Growth in Short Interest

AMERISAFE, Inc. (NASDAQ:AMSF) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 257,900 shares, an increase of 35.0% from the June 30th total of 191,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 127,800 shares, the short-interest ratio is presently 2.0 days.

AMERISAFE Stock Up 2.3 %

NASDAQ AMSF opened at $50.62 on Friday. AMERISAFE has a 52 week low of $41.97 and a 52 week high of $56.54. The business has a 50 day moving average price of $44.53 and a 200-day moving average price of $47.49. The company has a market cap of $968.87 million, a price-to-earnings ratio of 15.77 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. AMERISAFE had a net margin of 19.97% and a return on equity of 16.76%. The business had revenue of $80.49 million during the quarter, compared to analyst estimates of $75.22 million. During the same quarter in the previous year, the business posted $0.83 EPS. On average, equities research analysts anticipate that AMERISAFE will post 2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AMSF. JMP Securities reiterated a “market outperform” rating and set a $65.00 target price on shares of AMERISAFE in a research report on Monday, April 15th. StockNews.com upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th.

Insider Activity at AMERISAFE

In other AMERISAFE news, Director Michael J. Brown bought 1,000 shares of the stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $43.52 per share, for a total transaction of $43,520.00. Following the completion of the acquisition, the director now owns 10,055 shares in the company, valued at approximately $437,593.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Eagle Asset Management Inc. boosted its stake in AMERISAFE by 70.3% during the 4th quarter. Eagle Asset Management Inc. now owns 178,458 shares of the insurance provider’s stock valued at $8,348,000 after purchasing an additional 73,638 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of AMERISAFE by 18.4% during the fourth quarter. Westwood Holdings Group Inc. now owns 678,321 shares of the insurance provider’s stock valued at $31,732,000 after buying an additional 105,414 shares during the last quarter. Champlain Investment Partners LLC grew its holdings in AMERISAFE by 12.8% during the first quarter. Champlain Investment Partners LLC now owns 855,916 shares of the insurance provider’s stock worth $42,941,000 after buying an additional 97,280 shares in the last quarter. M&G Plc purchased a new stake in AMERISAFE in the 1st quarter valued at $23,251,000. Finally, Nisa Investment Advisors LLC raised its position in AMERISAFE by 8.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 8,680 shares of the insurance provider’s stock valued at $406,000 after buying an additional 700 shares during the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.

About AMERISAFE

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. The company provides benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. It sells its products through retail and wholesale brokers and agents; and small and mid-sized employers engaged in hazardous industries, including construction, trucking, logging and lumber, agriculture, manufacturing, telecommunications, and maritime.