Trean Insurance Group, Inc. (NASDAQ:TIG) Short Interest Up 56.3% in March

Trean Insurance Group, Inc. (NASDAQ:TIG – Get Rating) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 407,500 shares, a growth of 56.3% from the March 15th total of 260,800 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average trading volume of 225,300 shares, the short-interest ratio is currently 1.8 days.

NASDAQ:TIG opened at $4.70 on Friday. The stock’s fifty day moving average is $5.59 and its 200 day moving average is $7.78. Trean Insurance Group has a fifty-two week low of $3.19 and a fifty-two week high of $18.45. The firm has a market capitalization of $240.55 million, a PE ratio of 14.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.78 and a current ratio of 0.78.

Trean Insurance Group (NASDAQ:TIG – Get Rating) last released its quarterly earnings results on Wednesday, March 9th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). Trean Insurance Group had a net margin of 7.69% and a return on equity of 5.27%. During the same period in the previous year, the business posted $0.22 EPS. Equities analysts forecast that Trean Insurance Group will post 0.63 EPS for the current year.

TIG has been the topic of several recent research reports. JMP Securities decreased their price objective on Trean Insurance Group from $18.00 to $14.00 and set a “market outperform” rating on the stock in a report on Friday, January 14th. JPMorgan Chase & Co. cut Trean Insurance Group from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $9.00 to $6.00 in a report on Tuesday, March 29th. Zacks Investment Research raised Trean Insurance Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 9th. Finally, StockNews.com initiated coverage on Trean Insurance Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.00.

A number of large investors have recently added to or reduced their stakes in TIG. Janus Henderson Group PLC increased its stake in Trean Insurance Group by 62.2% in the third quarter. Janus Henderson Group PLC now owns 1,940,493 shares of the company’s stock worth $20,084,000 after purchasing an additional 743,949 shares during the period. Brandywine Global Investment Management LLC purchased a new stake in Trean Insurance Group in the third quarter worth $5,814,000. BlackRock Inc. increased its stake in Trean Insurance Group by 7.8% in the fourth quarter. BlackRock Inc. now owns 1,076,402 shares of the company’s stock worth $9,591,000 after purchasing an additional 77,895 shares during the period. Geode Capital Management LLC increased its stake in Trean Insurance Group by 23.6% in the fourth quarter. Geode Capital Management LLC now owns 342,586 shares of the company’s stock worth $3,052,000 after purchasing an additional 65,513 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Trean Insurance Group by 25.1% in the third quarter. Victory Capital Management Inc. now owns 240,096 shares of the company’s stock worth $2,485,000 after purchasing an additional 48,098 shares during the period. Institutional investors own 87.62% of the company’s stock.

Trean Insurance Group Company Profile (Get Rating)

Trean Insurance Group, Inc underwrites specialty casualty insurance products in the United States. The company underwrites business, predominantly workers' compensation, accident and health, and medical professional liability products. It also offers a variety of services, including issuing carrier, claims administration, and reinsurance brokerage services.

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