AMERISAFE, Inc. (NASDAQ:AMSF) Short Interest Update

AMERISAFE, Inc. (NASDAQ:AMSF) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 253,200 shares, a growth of 46.6% from the December 15th total of 172,700 shares. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Several brokerages have commented on AMSF. JMP Securities reaffirmed a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a research report on Tuesday, October 15th. Truist Financial upped their price objective on AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, October 25th.

Institutional Trading of AMERISAFE

Several hedge funds and other institutional investors have recently bought and sold shares of AMSF. Kathleen S. Wright Associates Inc. purchased a new position in AMERISAFE during the third quarter worth approximately $28,000. Quarry LP lifted 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 buying an additional 689 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 405 shares in the last quarter. Point72 DIFC Ltd purchased a new position in AMERISAFE during the second quarter worth approximately $100,000. Finally, Virtu Financial LLC purchased a new position in AMERISAFE during the third quarter worth approximately $200,000. 97.41% of the stock is owned by institutional investors and hedge funds.

AMERISAFE Price Performance

AMERISAFE stock traded up $0.56 during midday trading on Wednesday, reaching $51.68. The company’s stock had a trading volume of 1,944 shares, compared to its average volume of 73,049. The stock’s 50-day simple moving average is $54.81 and its 200-day simple moving average is $50.82. AMERISAFE has a 52-week low of $41.97 and a 52-week high of $60.24. The stock has a market capitalization of $984.50 million, a P/E ratio of 16.15 and a beta of 0.35.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. AMERISAFE had a return on equity of 16.50% and a net margin of 19.49%. The firm had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $75.38 million. During the same period last year, the business posted $0.61 earnings per share. As a group, equities research analysts expect that AMERISAFE will post 2.45 earnings per share for the current fiscal year.

AMERISAFE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were paid a $3.37 dividend. This represents a $13.48 annualized dividend and a dividend yield of 26.08%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, December 6th. AMERISAFE’s dividend payout ratio (DPR) is presently 46.25%.

AMERISAFE Company Profile

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.