Enstar Group Limited (NASDAQ:ESGR) Sees Significant Decline in Short Interest

Enstar Group Limited (NASDAQ:ESGR) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 47,000 shares, a drop of 11.5% from the October 15th total of 53,100 shares. Based on an average daily trading volume, of 79,300 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On Enstar Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farmers & Merchants Investments Inc. acquired a new stake in shares of Enstar Group in the second quarter worth approximately $31,000. GAMMA Investing LLC raised its position in shares of Enstar Group by 248.5% in the 3rd quarter. GAMMA Investing LLC now owns 115 shares of the insurance provider’s stock worth $37,000 after buying an additional 82 shares during the period. Blue Trust Inc. boosted its holdings in Enstar Group by 85.5% in the third quarter. Blue Trust Inc. now owns 141 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 65 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Enstar Group during the third quarter valued at about $48,000. Finally, Longfellow Investment Management Co. LLC acquired a new stake in Enstar Group during the third quarter worth about $50,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Enstar Group in a report on Tuesday, November 12th. They set a “hold” rating for the company.

Enstar Group Stock Performance

NASDAQ ESGR traded up $0.39 during trading hours on Monday, hitting $324.10. 34,893 shares of the stock were exchanged, compared to its average volume of 74,521. The company has a quick ratio of 0.31, a current ratio of 0.33 and a debt-to-equity ratio of 0.33. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 4.90 and a beta of 0.65. Enstar Group has a 12-month low of $261.76 and a 12-month high of $348.48. The stock has a 50-day moving average of $322.27 and a 200 day moving average of $318.49.

Enstar Group (NASDAQ:ESGR) last posted its quarterly earnings results on Tuesday, November 12th. The insurance provider reported $8.51 earnings per share (EPS) for the quarter. Enstar Group had a net margin of 73.26% and a return on equity of 17.33%. The company had revenue of $177.00 million during the quarter.

Enstar Group Company Profile

Enstar Group Limited acquires and manages insurance and reinsurance companies and portfolios in run-off in Bermuda and internationally. It engages in the run-off property and casualty; other reinsurance; life and catastrophe; and legacy underwriting businesses; as well as investment activities. The company also provides consulting services, including claims inspection, claims validation, reinsurance asset collection, syndicate management, and IT consulting services to the insurance and reinsurance industry.