AMERISAFE, Inc. (NASDAQ:AMSF) Short Interest Up 29.5% in March

AMERISAFE, Inc. (NASDAQ:AMSF) was the recipient of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 332,239 shares, an increase of 29.5% from the February 26th total of 256,457 shares. Based on an average trading volume of 199,002 shares, the days-to-cover ratio is presently 1.7 days. Currently, 1.8% of the shares of the company are sold short.

AMERISAFE Price Performance

Shares of NASDAQ:AMSF opened at $32.73 on Friday. The stock has a market cap of $615.32 million, a price-to-earnings ratio of 13.25 and a beta of 0.37. AMERISAFE has a 12 month low of $32.00 and a 12 month high of $53.27. The stock’s 50 day moving average price is $35.85 and its 200 day moving average price is $38.93.

AMERISAFE (NASDAQ:AMSF) last issued its quarterly earnings results on Wednesday, February 25th. The insurance provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.06). AMERISAFE had a net margin of 14.86% and a return on equity of 15.89%. The firm had revenue of $81.59 million for the quarter, compared to the consensus estimate of $80.05 million. On average, sell-side analysts expect that AMERISAFE will post 2.45 EPS for the current year.

AMERISAFE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 13th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.64 annualized dividend and a yield of 5.0%. AMERISAFE’s dividend payout ratio (DPR) is currently 66.40%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMSF. Wall Street Zen lowered AMERISAFE from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Morgan Stanley set a $55.00 price target on AMERISAFE in a report on Friday, January 16th. Weiss Ratings cut shares of AMERISAFE from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Truist Financial reduced their price objective on shares of AMERISAFE from $45.00 to $36.00 and set a “hold” rating for the company in a report on Friday, February 27th. Finally, Citigroup reiterated a “market outperform” rating on shares of AMERISAFE in a research report on Friday, January 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AMERISAFE presently has an average rating of “Hold” and an average target price of $48.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in AMERISAFE by 0.4% during the second quarter. New York State Common Retirement Fund now owns 87,449 shares of the insurance provider’s stock valued at $3,824,000 after buying an additional 334 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of AMERISAFE by 2.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,701 shares of the insurance provider’s stock worth $776,000 after acquiring an additional 377 shares in the last quarter. Clearstead Advisors LLC boosted its stake in shares of AMERISAFE by 142.4% during the 4th quarter. Clearstead Advisors LLC now owns 657 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 386 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of AMERISAFE by 159.6% during the 4th quarter. Hantz Financial Services Inc. now owns 714 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of AMERISAFE by 38.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,633 shares of the insurance provider’s stock valued at $72,000 after acquiring an additional 455 shares during the last quarter. 97.41% of the stock is owned by institutional investors and hedge funds.

About AMERISAFE

Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers’ compensation insurance products and services in the United States. The company focuses on underwriting and managing workers’ compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety.

In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services.