Enstar Group Limited (NASDAQ:ESGR) Sees Large Drop in Short Interest

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

Enstar Group Price Performance

Shares of ESGR opened at $323.71 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.31 and a current ratio of 0.33. The firm has a market cap of $4.93 billion, a PE ratio of 4.90 and a beta of 0.65. The firm’s 50 day moving average price is $322.27 and its 200 day moving average price is $318.31. Enstar Group has a twelve month low of $255.99 and a twelve month high of $348.48.

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

Hedge Funds Weigh In On Enstar Group

Several institutional investors have recently bought and sold shares of ESGR. Dimensional Fund Advisors LP increased its holdings in shares of Enstar Group by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 793,067 shares of the insurance provider’s stock valued at $242,442,000 after acquiring an additional 30,831 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Enstar Group by 2.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 412,455 shares of the insurance provider’s stock valued at $126,087,000 after purchasing an additional 9,520 shares during the last quarter. State Street Corp grew its holdings in Enstar Group by 0.3% during the third quarter. State Street Corp now owns 357,912 shares of the insurance provider’s stock valued at $115,101,000 after purchasing an additional 1,130 shares during the last quarter. Harspring Capital Management LLC raised its position in shares of Enstar Group by 3.6% in the second quarter. Harspring Capital Management LLC now owns 195,000 shares of the insurance provider’s stock valued at $59,612,000 after purchasing an additional 6,750 shares during the period. Finally, Glazer Capital LLC acquired a new stake in shares of Enstar Group in the third quarter worth $59,941,000. 81.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.