Enstar Group Limited (NASDAQ:ESGR) Sees Large Drop in Short Interest

Enstar Group Limited (NASDAQ:ESGR) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 59,800 shares, a decline of 5.1% from the August 15th total of 63,000 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 121,100 shares, the short-interest ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Enstar Group in a research report on Tuesday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On Enstar Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESGR. Farmers & Merchants Investments Inc. acquired a new stake in shares of Enstar Group during the second quarter worth approximately $31,000. CWM LLC increased its holdings in Enstar Group by 293.3% during the 1st quarter. CWM LLC now owns 118 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 88 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in Enstar Group in the 2nd quarter valued at $80,000. EntryPoint Capital LLC acquired a new position in Enstar Group in the first quarter worth $147,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Enstar Group during the second quarter worth $203,000. 81.01% of the stock is currently owned by institutional investors and hedge funds.

Enstar Group Price Performance

Shares of ESGR stock opened at $318.86 on Thursday. The stock’s fifty day simple moving average is $324.59 and its 200 day simple moving average is $309.85. Enstar Group has a one year low of $229.57 and a one year high of $348.48. The firm has a market cap of $4.86 billion, a price-to-earnings ratio of 6.19 and a beta of 0.66. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.31 and a quick ratio of 0.31.

Enstar Group (NASDAQ:ESGR) last issued its earnings results on Monday, July 29th. The insurance provider reported $10.78 EPS for the quarter. The company had revenue of $159.00 million for the quarter. Enstar Group had a net margin of 81.31% and a return on equity of 18.55%.

Enstar Group Company Profile

Enstar Group Limited acquires and manages insurance and reinsurance companies and portfolios in run-off in Bermuda and internationally. It engages in the run-off property and casualty; other reinsurance; life and catastrophe; and legacy underwriting businesses; as well as investment activities. The company also provides consulting services, including claims inspection, claims validation, reinsurance asset collection, syndicate management, and IT consulting services to the insurance and reinsurance industry.