Price Action to Note: Could James River Group Holdings Ltd Go Down After Making 52-Week High?

Price Action to Note: Could James River Group Holdings Ltd Go Down After Making 52 Week High?

The stock of James River Group Holdings Ltd (NASDAQ:JRVR) hit a new 52-week high and has $64.79 target or 66.00% above today’s $39.03 share price. The 5 months bullish chart indicates low risk for the $1.16B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $64.79 price target is reached, the company will be worth $765.60 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 31,215 shares traded hands. James River Group Holdings Ltd (NASDAQ:JRVR) has risen 22.53% since March 16, 2016 and is uptrending. It has outperformed by 16.99% the S&P500.

Analysts await James River Group Holdings Ltd (NASDAQ:JRVR) to report earnings on November, 2. They expect $0.66 EPS, up 1.54% or $0.01 from last year’s $0.65 per share. JRVR’s profit will be $19.62 million for 14.78 P/E if the $0.66 EPS becomes a reality. After $0.46 actual EPS reported by James River Group Holdings Ltd for the previous quarter, Wall Street now forecasts 43.48% EPS growth.

James River Group Holdings Ltd (NASDAQ:JRVR) Ratings Coverage

Out of 3 analysts covering James River Group Holdings Ltd (NASDAQ:JRVR), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. James River Group Holdings Ltd has been the topic of 7 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Zacks upgraded it to “Hold” rating and $31 target price in Monday, August 10 report. The rating was maintained by FBR Capital on Tuesday, October 4 with “Outperform”. The rating was upgraded by BMO Capital Markets to “Outperform” on Monday, November 23.

According to Zacks Investment Research, “James River Group Holdings, Ltd. is an insurance company which own and operate specialty insurance and reinsurance companies. The Company operates through Excess and Surplus Lines, Specialty Admitted Insurance and Casualty Reinsurance segments. James River Group Holdings, Ltd. is based in Hamilton, Bermuda.”

Insitutional Activity: The institutional sentiment increased to 1.74 in Q2 2016. Its up 0.54, from 1.2 in 2016Q1. The ratio increased, as 6 funds sold all James River Group Holdings Ltd shares owned while 28 reduced positions. 17 funds bought stakes while 42 increased positions. They now own 27.72 million shares or 0.18% more from 27.67 million shares in 2016Q1.
Bancorp Of New York Mellon, a New York-based fund reported 173,276 shares. Citadel Advsrs Ltd Liability has 12,214 shares for 0% of their US portfolio. Morgan Stanley owns 84,505 shares or 0% of their US portfolio. California Employees Retirement System accumulated 0% or 52,400 shares. Wellington Mgmt Gru Limited Liability Partnership accumulated 0.01% or 1.41M shares. Teacher Retirement Sys Of Texas holds 0% of its portfolio in James River Group Holdings Ltd (NASDAQ:JRVR) for 2,041 shares. The Ontario – Canada-based Royal Financial Bank Of Canada has invested 0% in James River Group Holdings Ltd (NASDAQ:JRVR). Deutsche Bank Ag reported 43,257 shares or 0% of all its holdings. Tfs Capital holds 0.06% of its portfolio in James River Group Holdings Ltd (NASDAQ:JRVR) for 10,204 shares. The Massachusetts-based Geode Cap Management Ltd has invested 0% in James River Group Holdings Ltd (NASDAQ:JRVR). Credit Suisse Ag holds 0% of its portfolio in James River Group Holdings Ltd (NASDAQ:JRVR) for 12,260 shares. Raymond James Associates, a Florida-based fund reported 41,335 shares. California State Teachers Retirement Systems accumulated 0% or 29,925 shares. Glg Lc last reported 15,000 shares in the company. Moreover, American Group Inc has 0% invested in James River Group Holdings Ltd (NASDAQ:JRVR) for 8,216 shares.

More news for James River Group Holdings Ltd (NASDAQ:JRVR) were recently published by: Globenewswire.com, which released: “James River Group Holdings, Ltd. (NASDAQ: “JRVR”) Announces Dates for Its 2016 …” on October 11, 2016. Globenewswire.com‘s article titled: “James River Group Holdings, Ltd. (NASDAQ: “JRVR”) Announces Dates for Its 2016 …” and published on July 12, 2016 is yet another important article.

JRVR Company Profile

James River Group Holdings, Ltd., incorporated on May 30, 2007, is an insurance holding company. The Firm owns and operates a group of specialty insurance and reinsurance companies. The Firm operates through four divisions: Excess and Surplus Lines, Specialty Admitted Insurance, Casualty Reinsurance, and Corporate and Other.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment