Arch Capital Group Ltd. (NASDAQ:ACGL) Sees Large Decrease in Short Interest

Arch Capital Group Ltd. (NASDAQ:ACGLGet Rating) was the target of a large drop in short interest in April. As of April 30th, there was short interest totalling 3,360,000 shares, a drop of 34.0% from the April 15th total of 5,090,000 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,080,000 shares, the short-interest ratio is currently 1.6 days.

In other news, CFO Francois Morin sold 12,351 shares of the firm’s stock in a transaction dated Monday, March 14th. The shares were sold at an average price of $46.36, for a total value of $572,592.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian S. Posner bought 2,000 shares of the stock in a transaction dated Friday, April 29th. The stock was purchased at an average price of $19.23 per share, with a total value of $38,460.00. Following the acquisition, the director now directly owns 2,000 shares in the company, valued at approximately $38,460. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently modified their holdings of ACGL. Dark Forest Capital Management LP purchased a new stake in Arch Capital Group during the 3rd quarter worth approximately $25,000. CVA Family Office LLC purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in Arch Capital Group during the 1st quarter worth approximately $27,000. CWM LLC purchased a new stake in Arch Capital Group during the 4th quarter worth approximately $34,000. Finally, Signaturefd LLC grew its position in Arch Capital Group by 59.8% during the 4th quarter. Signaturefd LLC now owns 866 shares of the insurance provider’s stock worth $38,000 after purchasing an additional 324 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Arch Capital Group from $49.00 to $57.00 in a report on Friday, February 11th. JMP Securities lifted their price objective on shares of Arch Capital Group from $50.00 to $55.00 in a report on Thursday, February 10th. MKM Partners lifted their price objective on shares of Arch Capital Group from $50.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 10th. Morgan Stanley lifted their price objective on shares of Arch Capital Group from $52.00 to $53.00 and gave the company an “equal weight” rating in a report on Monday, February 14th. Finally, StockNews.com lowered shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday, April 12th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $53.33.

Shares of Arch Capital Group stock opened at $46.02 on Friday. The firm’s 50 day moving average price is $47.06 and its 200-day moving average price is $45.48. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.24. Arch Capital Group has a 52-week low of $36.53 and a 52-week high of $50.73. The company has a market cap of $17.29 billion, a P/E ratio of 9.85, a PEG ratio of 1.06 and a beta of 0.83.

Arch Capital Group (NASDAQ:ACGLGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The insurance provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). Arch Capital Group had a return on equity of 13.18% and a net margin of 21.45%. The firm had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the firm earned $0.59 EPS. As a group, equities research analysts forecast that Arch Capital Group will post 4.32 EPS for the current fiscal year.

Arch Capital Group Company Profile (Get Rating)

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; collateral protection, debt cancellation, and service contract reimbursement products; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.

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