Amerisafe, Inc. (NASDAQ:AMSF) Sees Large Increase in Short Interest

Amerisafe, Inc. (NASDAQ:AMSF) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 326,400 shares, a growth of 18.7% from the June 30th total of 274,900 shares. Approximately 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 111,200 shares, the short-interest ratio is presently 2.9 days.

Shares of NASDAQ AMSF opened at $63.46 on Friday. The stock’s 50 day moving average price is $61.48 and its two-hundred day moving average price is $63.64. Amerisafe has a 52-week low of $48.02 and a 52-week high of $80.65. The stock has a market capitalization of $1.22 billion, a P/E ratio of 13.59 and a beta of 0.37.

Amerisafe (NASDAQ:AMSF) last announced its quarterly earnings data on Thursday, July 30th. The insurance provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.31. Amerisafe had a return on equity of 20.27% and a net margin of 25.63%. The firm had revenue of $83.35 million for the quarter, compared to analysts’ expectations of $80.34 million. As a group, research analysts anticipate that Amerisafe will post 3.03 EPS for the current fiscal year.

In other news, EVP Vincent J. Gagliano sold 2,408 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $63.42, for a total value of $152,715.36. Following the completion of the sale, the executive vice president now owns 20,049 shares of the company’s stock, valued at $1,271,507.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. acquired a new stake in shares of Amerisafe during the 4th quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Amerisafe by 22.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,502 shares of the insurance provider’s stock worth $97,000 after purchasing an additional 279 shares during the period. Advisor Group Inc. raised its position in shares of Amerisafe by 17.6% during the 4th quarter. Advisor Group Inc. now owns 1,980 shares of the insurance provider’s stock worth $131,000 after purchasing an additional 297 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Amerisafe by 58.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,385 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 883 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Amerisafe during the 1st quarter worth approximately $213,000.

Several research analysts recently commented on the company. ValuEngine cut Amerisafe from a “hold” rating to a “sell” rating in a research note on Friday, May 8th. BidaskClub cut Amerisafe from a “buy” rating to a “hold” rating in a research note on Thursday, June 11th. Boenning Scattergood reiterated a “neutral” rating on shares of Amerisafe in a research note on Tuesday, July 21st. Finally, SunTrust Banks cut their price target on Amerisafe from $77.00 to $72.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Amerisafe has a consensus rating of “Hold” and a consensus target price of $77.67.

About Amerisafe

AMERISAFE, Inc, an insurance holding company, underwrites workers' compensation insurance in the United States. Its workers' compensation insurance policies provide benefits to injured employees for temporary or permanent disability, death, and medical and hospital expenses. The company provides workers' compensation insurance for small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, manufacturing, agriculture, maritime, and oil and gas.

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