AMERISAFE, Inc. (NASDAQ:AMSF) Short Interest Down 43.0% in September

AMERISAFE, Inc. (NASDAQ:AMSF) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 177,500 shares, a decline of 43.0% from the September 15th total of 311,600 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 123,300 shares, the days-to-cover ratio is currently 1.4 days. Based on an average trading volume of 123,300 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the company’s stock are sold short.

AMERISAFE Price Performance

Shares of AMSF stock opened at $41.78 on Tuesday. AMERISAFE has a 12 month low of $40.03 and a 12 month high of $60.24. The firm has a market capitalization of $793.40 million, a P/E ratio of 15.83 and a beta of 0.32. The company’s fifty day moving average price is $44.20 and its two-hundred day moving average price is $45.43.

AMERISAFE (NASDAQ:AMSF) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $79.70 million during the quarter, compared to the consensus estimate of $77.30 million. AMERISAFE had a return on equity of 16.54% and a net margin of 16.46%. On average, sell-side analysts anticipate that AMERISAFE will post 2.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMSF shares. Truist Financial reduced their target price on shares of AMERISAFE from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, July 28th. JMP Securities dropped their price target on shares of AMERISAFE from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of AMERISAFE from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of AMERISAFE in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $55.00.

Insider Buying and Selling at AMERISAFE

In related news, CFO Anastasios Omiridis sold 1,343 shares of AMERISAFE stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.75, for a total transaction of $60,099.25. Following the transaction, the chief financial officer owned 2,253 shares in the company, valued at approximately $100,821.75. The trade was a 37.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.61% of the company’s stock.

Institutional Investors Weigh In On AMERISAFE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in shares of AMERISAFE by 25.4% in the 3rd quarter. CWM LLC now owns 19,868 shares of the insurance provider’s stock worth $871,000 after purchasing an additional 4,018 shares during the last quarter. Inspire Investing LLC increased its position in shares of AMERISAFE by 15.6% in the 3rd quarter. Inspire Investing LLC now owns 10,305 shares of the insurance provider’s stock worth $452,000 after purchasing an additional 1,391 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of AMERISAFE by 16.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 43,099 shares of the insurance provider’s stock worth $1,889,000 after purchasing an additional 5,934 shares during the last quarter. GAMMA Investing LLC increased its position in shares of AMERISAFE by 38.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,633 shares of the insurance provider’s stock worth $72,000 after purchasing an additional 455 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its position in shares of AMERISAFE by 6.7% in the 2nd quarter. Texas Permanent School Fund Corp now owns 22,447 shares of the insurance provider’s stock worth $982,000 after purchasing an additional 1,406 shares during the last quarter. Institutional investors own 97.41% of the company’s stock.

About AMERISAFE

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.