James River Group (NASDAQ:JRVR) Rating Lowered to “Strong Sell” at Zacks Research

James River Group (NASDAQ:JRVR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on JRVR. Citizens Jmp reiterated a “market perform” rating on shares of James River Group in a research report on Tuesday. Weiss Ratings cut James River Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday. Truist Financial boosted their price target on James River Group from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Wall Street Zen cut James River Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Citigroup cut James River Group from a “hold” rating to a “market perform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, James River Group currently has an average rating of “Reduce” and an average price target of $7.00.

James River Group Stock Down 3.5%

Shares of JRVR stock opened at $4.15 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.65 and a current ratio of 0.64. The firm’s 50-day moving average is $6.27 and its 200-day moving average is $6.22. The stock has a market cap of $191.90 million, a price-to-earnings ratio of 12.21 and a beta of -0.03. James River Group has a 52-week low of $4.03 and a 52-week high of $7.20.

James River Group (NASDAQ:JRVR) last issued its earnings results on Monday, May 4th. The insurance provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). The firm had revenue of $151.38 million during the quarter, compared to the consensus estimate of $155.07 million. James River Group had a net margin of 4.34% and a return on equity of 10.79%. Sell-side analysts predict that James River Group will post 0.8 EPS for the current year.

Institutional Trading of James River Group

A number of institutional investors and hedge funds have recently bought and sold shares of JRVR. Enstar Group LTD acquired a new stake in James River Group in the fourth quarter valued at $16,477,000. Zimmer Partners LP increased its holdings in James River Group by 53.8% in the third quarter. Zimmer Partners LP now owns 4,591,638 shares of the insurance provider’s stock valued at $25,484,000 after purchasing an additional 1,605,828 shares during the period. Donald Smith & CO. Inc. increased its holdings in James River Group by 434.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,671,220 shares of the insurance provider’s stock valued at $10,629,000 after purchasing an additional 1,358,785 shares during the period. Flax Pond Capital LLC acquired a new stake in James River Group in the fourth quarter valued at $3,427,000. Finally, Kennedy Capital Management LLC acquired a new stake in James River Group in the fourth quarter valued at $3,117,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

About James River Group

James River Group Holdings, Ltd., through its subsidiaries, underwrites property and casualty insurance products primarily in the program, wholesale broker and retail broker markets. The company focuses on specialty P&C lines, offering binding authority and delegated underwriting solutions for niche sectors including professional liability, environmental, real estate and other tailored commercial risks. Operating under the James River brand, it provides both admitted and non-admitted insurance across multiple states.

Founded in 2014 and headquartered in Richmond, Virginia, James River Group has expanded through a combination of organic growth and strategic acquisitions.