Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Decreases By 11.2%

by · The Cerbat Gem

AMERISAFE, Inc. (NASDAQ:AMSF – Get Free Report) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 194,000 shares, a decline of 11.2% from the September 15th total of 218,400 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily trading volume, of 111,100 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AMSF. StockNews.com upgraded AMERISAFE from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $65.00 target price on shares of AMERISAFE in a research note on Tuesday.

Check Out Our Latest Stock Report on AMERISAFE

Hedge Funds Weigh In On AMERISAFE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMSF. Kathleen S. Wright Associates Inc. bought a new position in AMERISAFE during the third quarter worth about $28,000. Quarry LP boosted its position in AMERISAFE by 1,028.4% during the second quarter. Quarry LP now owns 756 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 689 shares during the period. Isthmus Partners LLC boosted its position in AMERISAFE by 14.4% during the second quarter. Isthmus Partners LLC now owns 76,870 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 9,672 shares during the period. GAMMA Investing LLC boosted its position in AMERISAFE by 97.1% during the third quarter. GAMMA Investing LLC now owns 822 shares of the insurance provider’s stock worth $40,000 after purchasing an additional 405 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of AMERISAFE in the second quarter worth about $100,000. Institutional investors own 97.41% of the company’s stock.

AMERISAFE Stock Performance

AMSF opened at $49.69 on Wednesday. The firm has a market cap of $950.82 million, a P/E ratio of 15.48 and a beta of 0.34. The firm has a 50-day moving average of $48.46 and a 200 day moving average of $46.86. AMERISAFE has a fifty-two week low of $41.97 and a fifty-two week high of $54.80.

AMERISAFE (NASDAQ:AMSF – Get Free Report) last issued its earnings results on Monday, July 29th. The insurance provider reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). The business had revenue of $75.83 million for the quarter, compared to the consensus estimate of $74.20 million. AMERISAFE had a return on equity of 16.38% and a net margin of 18.46%. During the same quarter in the prior year, the business earned $0.73 EPS. Equities research analysts predict that AMERISAFE will post 2.4 earnings per share for the current fiscal year.

AMERISAFE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $1.48 dividend on an annualized basis and a yield of 2.98%. AMERISAFE’s dividend payout ratio is presently 46.11%.

About AMERISAFE

(Get Free Report)

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.

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