Short Interest in AMERISAFE, Inc. (NASDAQ:AMSF) Increases By 17.1%

AMERISAFE, Inc. (NASDAQ:AMSF) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 208,700 shares, a growth of 17.1% from the October 15th total of 178,200 shares. Based on an average daily volume of 111,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.1% of the shares of the company are short sold.

AMERISAFE Stock Down 0.2 %

AMSF stock traded down $0.12 during mid-day trading on Friday, hitting $58.17. 24,234 shares of the company were exchanged, compared to its average volume of 123,706. The business has a fifty day simple moving average of $51.24 and a 200-day simple moving average of $47.80. AMERISAFE has a 12-month low of $41.97 and a 12-month high of $60.24. The firm has a market capitalization of $1.11 billion, a P/E ratio of 18.22 and a beta of 0.33.

AMERISAFE (NASDAQ:AMSF) last announced its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. AMERISAFE had a net margin of 19.49% and a return on equity of 16.50%. The firm had revenue of $78.70 million for the quarter, compared to analyst estimates of $75.38 million. During the same period last year, the business earned $0.61 EPS. Research analysts predict that AMERISAFE will post 2.45 EPS for the current year.

AMERISAFE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be issued a $3.37 dividend. This represents a $13.48 dividend on an annualized basis and a dividend yield of 23.17%. This is a boost from AMERISAFE’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, December 6th. AMERISAFE’s payout ratio is 46.25%.

Analysts Set New Price Targets

AMSF has been the topic of several research analyst reports. StockNews.com raised shares of AMERISAFE from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Truist Financial increased their price target on shares of AMERISAFE from $48.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, JMP Securities reissued a “market outperform” rating and issued a $65.00 price objective on shares of AMERISAFE in a report on Tuesday, October 15th.

Institutional Investors Weigh In On AMERISAFE

Several hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC increased its stake in shares of AMERISAFE by 12.8% in the first quarter. Champlain Investment Partners LLC now owns 855,916 shares of the insurance provider’s stock worth $42,941,000 after buying an additional 97,280 shares during the last quarter. M&G Plc purchased a new stake in shares of AMERISAFE in the 1st quarter valued at approximately $23,251,000. Public Employees Retirement Association of Colorado grew its holdings in shares of AMERISAFE by 5.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 315,409 shares of the insurance provider’s stock valued at $13,843,000 after buying an additional 15,196 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of AMERISAFE in the first quarter worth approximately $821,000. Finally, EntryPoint Capital LLC lifted its position in AMERISAFE by 22.0% in the 1st quarter. EntryPoint Capital LLC now owns 2,082 shares of the insurance provider’s stock worth $104,000 after buying an additional 376 shares in the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

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.