Ryan Specialty Holdings, Inc. (NYSE:RYAN) Short Interest Down 19.5% in January

Ryan Specialty Holdings, Inc. (NYSE:RYAN) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 4,500,000 shares, a drop of 19.5% from the December 31st total of 5,590,000 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily volume of 877,500 shares, the short-interest ratio is currently 5.1 days.

Wall Street Analysts Forecast Growth

RYAN has been the subject of several analyst reports. Morgan Stanley initiated coverage on Ryan Specialty in a report on Thursday, December 5th. They set an “overweight” rating and a $90.00 price target for the company. Bank of America upped their price objective on Ryan Specialty from $75.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price objective on Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on Ryan Specialty from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Barclays increased their price target on Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.40.

Ryan Specialty Trading Up 1.4 %

RYAN stock traded up $0.91 during midday trading on Monday, reaching $67.49. 859,832 shares of the company traded hands, compared to its average volume of 1,019,344. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day moving average of $66.66 and a 200-day moving average of $66.64. Ryan Specialty has a 52-week low of $42.34 and a 52-week high of $75.97. The firm has a market capitalization of $17.67 billion, a price-to-earnings ratio of 87.65, a P/E/G ratio of 1.16 and a beta of 0.72.

Insider Activity at Ryan Specialty

In other Ryan Specialty news, Director David P. Bolger sold 7,055 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $500,058.40. Following the completion of the sale, the director now owns 78,149 shares in the company, valued at approximately $5,539,201.12. The trade was a 8.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark Stephen Katz sold 14,790 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $71.39, for a total transaction of $1,055,858.10. Following the completion of the transaction, the executive vice president now directly owns 12,386 shares in the company, valued at $884,236.54. This trade represents a 54.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 338,296 shares of company stock valued at $22,463,709 in the last ninety days. Insiders own 11.10% of the company’s stock.

Hedge Funds Weigh In On Ryan Specialty

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Ryan Specialty by 60.2% in the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock valued at $68,054,000 after buying an additional 385,366 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Ryan Specialty by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock worth $30,504,000 after acquiring an additional 238,064 shares during the period. Geneva Partners LLC purchased a new stake in shares of Ryan Specialty during the 3rd quarter valued at $2,537,000. Bar Harbor Wealth Management grew its stake in shares of Ryan Specialty by 5.9% during the 4th quarter. Bar Harbor Wealth Management now owns 168,871 shares of the company’s stock valued at $10,835,000 after buying an additional 9,482 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Ryan Specialty by 1.1% during the 3rd quarter. Barclays PLC now owns 1,641,743 shares of the company’s stock valued at $108,994,000 after acquiring an additional 17,267 shares in the last quarter. Hedge funds and other institutional investors own 84.82% of the company’s stock.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.