Admiral Group plc (OTCMKTS:AMIGY) Sees Significant Drop in Short Interest

Admiral Group plc (OTCMKTS:AMIGY) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totaling 5,254 shares, a decline of 62.1% from the June 30th total of 13,867 shares. Based on an average daily trading volume, of 35,429 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

AMIGY has been the topic of several recent analyst reports. Royal Bank Of Canada cut Admiral Group from a “sector perform” rating to a “sector perform” rating in a report on Friday, June 19th. The Goldman Sachs Group raised Admiral Group from a “sell” rating to a “neutral” rating in a report on Thursday, July 9th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Admiral Group presently has an average rating of “Moderate Buy”.

Admiral Group Stock Performance

Shares of AMIGY stock opened at $47.80 on Monday. Admiral Group has a 1-year low of $36.05 and a 1-year high of $52.08. The business has a 50-day moving average of $46.91 and a 200 day moving average of $43.78.

About Admiral Group

Admiral Group plc is a UK-based specialist insurer founded in 1993 and headquartered in Cardiff, Wales. Since its inception, the company has focused on developing straightforward insurance products sold directly to customers, pioneering the use of online sales and multi-car policies. Admiral’s low-overhead model and emphasis on technology have helped it establish a significant presence in the personal lines insurance market.

The core offering of Admiral Group centers on motor insurance, with additional products including home insurance, travel cover and breakdown assistance.