Dark Forest Capital Management LP Sells 11,778 Shares of Ryan Specialty Holdings, Inc. (NYSE:RYAN)

Dark Forest Capital Management LP cut its stake in Ryan Specialty Holdings, Inc. (NYSE:RYAN) by 41.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,824 shares of the company’s stock after selling 11,778 shares during the period. Dark Forest Capital Management LP’s holdings in Ryan Specialty were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Dundas Partners LLP acquired a new stake in Ryan Specialty in the second quarter worth about $591,000. AQR Capital Management LLC bought a new position in shares of Ryan Specialty in the 2nd quarter valued at about $261,000. Xponance Inc. boosted its stake in shares of Ryan Specialty by 67.2% in the 2nd quarter. Xponance Inc. now owns 20,686 shares of the company’s stock valued at $1,198,000 after purchasing an additional 8,312 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of Ryan Specialty during the 2nd quarter worth approximately $280,000. Finally, Thrivent Financial for Lutherans raised its stake in shares of Ryan Specialty by 519.6% during the second quarter. Thrivent Financial for Lutherans now owns 28,803 shares of the company’s stock worth $1,668,000 after buying an additional 24,154 shares during the last quarter. 84.82% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Nicholas Dominic Cortezi sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.02, for a total value of $97,530.00. Following the sale, the director now directly owns 25,123 shares in the company, valued at $1,633,497.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Jeremiah Rawlins Bickham sold 26,233 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $65.18, for a total transaction of $1,709,866.94. Following the completion of the transaction, the executive vice president now owns 24,845 shares in the company, valued at $1,619,397.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Dominic Cortezi sold 1,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.02, for a total transaction of $97,530.00. Following the completion of the transaction, the director now directly owns 25,123 shares of the company’s stock, valued at approximately $1,633,497.46. The disclosure for this sale can be found here. Insiders have sold a total of 2,107,136 shares of company stock worth $131,860,032 over the last ninety days. Company insiders own 11.10% of the company’s stock.

Ryan Specialty Stock Down 1.1 %

NYSE:RYAN opened at $66.19 on Friday. Ryan Specialty Holdings, Inc. has a 1 year low of $41.49 and a 1 year high of $69.03. The stock has a 50-day moving average price of $63.68 and a two-hundred day moving average price of $57.56. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 124.89, a PEG ratio of 1.52 and a beta of 0.62. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.81.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. The business had revenue of $695.40 million during the quarter, compared to analyst estimates of $695.56 million. Ryan Specialty had a return on equity of 48.08% and a net margin of 10.21%. Ryan Specialty’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities analysts expect that Ryan Specialty Holdings, Inc. will post 1.81 earnings per share for the current year.

Ryan Specialty Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, August 13th. Ryan Specialty’s dividend payout ratio is 83.02%.

Analyst Ratings Changes

RYAN has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Ryan Specialty from $67.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Barclays started coverage on Ryan Specialty in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $76.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Ryan Specialty from $54.00 to $56.00 and gave the company an “underweight” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their target price on Ryan Specialty from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group boosted their target price on Ryan Specialty from $58.00 to $64.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ryan Specialty has an average rating of “Hold” and an average price target of $66.78.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.