Short Interest in AmTrust Financial Services Increases By 19.1% (AFSI)
Shares of AmTrust Financial Services (NASDAQ:AFSI) were the recipient of a significant growth in short interest in June. As of June 13th, there was short interest totalling 11,646,086 shares, a growth of 19.1% from the May 30th total of 9,775,327 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 694,062 shares, the short-interest ratio is presently 16.8 days. Currently, 38.9% of the shares of the company are sold short.
In other AmTrust Financial Services news, EVP David Saks unloaded 7,000 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $41.42, for a total transaction of $289,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on AFSI. Analysts at Zacks upgraded shares of AmTrust Financial Services from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 21st. They now have a $47.10 price target on the stock. Separately, analysts at Compass Point upgraded shares of AmTrust Financial Services from a “neutral” rating to a “buy” rating in a research note on Friday, May 2nd. They now have a $49.00 price target on the stock, up previously from $37.00.
Shares of AmTrust Financial Services (NASDAQ:AFSI) opened at 41.55 on Monday. AmTrust Financial Services has a 52 week low of $27.90 and a 52 week high of $47.10. The stock has a 50-day moving average of $43.11 and a 200-day moving average of $37.51. The company has a market cap of $3.134 billion and a price-to-earnings ratio of 10.79.
AmTrust Financial Services (NASDAQ:AFSI) last announced its earnings results on Thursday, May 1st. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.36. The company had revenue of $954.00 million for the quarter, compared to the consensus estimate of $687.18 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. On average, analysts predict that AmTrust Financial Services will post $4.43 earnings per share for the current fiscal year.
Amtrust Financial Services, Inc is a holding company. The Company is a multinational specialty property and casualty insurer focused on generating consistent underwriting profits.
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