Short Interest in Enstar Group Limited (NASDAQ:ESGR) Declines By 20.1%

Enstar Group Limited (NASDAQ:ESGR) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 50,800 shares, a drop of 20.1% from the November 15th total of 63,600 shares. Based on an average daily trading volume, of 72,800 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Enstar Group

Several institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its stake in Enstar Group by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 6,958 shares of the insurance provider’s stock valued at $2,127,000 after acquiring an additional 38 shares in the last quarter. CWM LLC lifted its holdings in shares of Enstar Group by 22.0% in the 3rd quarter. CWM LLC now owns 227 shares of the insurance provider’s stock valued at $73,000 after purchasing an additional 41 shares during the last quarter. US Bancorp DE boosted its position in shares of Enstar Group by 40.7% in the 3rd quarter. US Bancorp DE now owns 211 shares of the insurance provider’s stock valued at $68,000 after purchasing an additional 61 shares during the period. Arizona State Retirement System boosted its position in shares of Enstar Group by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 3,404 shares of the insurance provider’s stock valued at $1,041,000 after purchasing an additional 63 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Enstar Group by 3.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,721 shares of the insurance provider’s stock worth $526,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 81.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Enstar Group in a report on Saturday. They set a “hold” rating for the company.

Enstar Group Stock Down 0.2 %

Shares of Enstar Group stock traded down $0.71 during trading on Friday, hitting $324.45. 177,927 shares of the stock were exchanged, compared to its average volume of 75,452. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 4.91 and a beta of 0.65. The firm’s 50-day moving average price is $324.10 and its 200 day moving average price is $321.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.33 and a quick ratio of 0.33. Enstar Group has a 12-month low of $262.54 and a 12-month high of $348.48.

Enstar Group (NASDAQ:ESGR) last announced its quarterly earnings results on Tuesday, November 12th. The insurance provider reported $8.51 earnings per share (EPS) for the quarter. Enstar Group had a return on equity of 17.33% and a net margin of 73.26%. The company had revenue of $177.00 million during the quarter.

About Enstar Group

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.