International General Insurance Holdings Ltd. (NASDAQ:IGIC) Short Interest Update

International General Insurance Holdings Ltd. (NASDAQ:IGIC) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 120,000 shares, an increase of 169.7% from the October 15th total of 44,500 shares. Based on an average daily trading volume, of 95,400 shares, the short-interest ratio is currently 1.3 days. Approximately 0.8% of the company’s shares are sold short.

International General Insurance Trading Up 2.0 %

Shares of NASDAQ:IGIC opened at $25.03 on Friday. The firm’s 50 day moving average is $19.93 and its two-hundred day moving average is $16.88. International General Insurance has a 52 week low of $11.33 and a 52 week high of $25.50. The firm has a market capitalization of $1.15 billion, a P/E ratio of 8.02 and a beta of 0.21.

International General Insurance (NASDAQ:IGIC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.11. International General Insurance had a net margin of 26.24% and a return on equity of 22.78%. The firm had revenue of $138.10 million for the quarter.

Institutional Trading of International General Insurance

Large investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in International General Insurance by 112.5% in the second quarter. Sei Investments Co. now owns 255,719 shares of the company’s stock valued at $3,580,000 after buying an additional 135,400 shares during the period. Acadian Asset Management LLC grew its position in International General Insurance by 35.1% in the second quarter. Acadian Asset Management LLC now owns 221,120 shares of the company’s stock valued at $3,095,000 after purchasing an additional 57,399 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of International General Insurance by 31.6% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 189,300 shares of the company’s stock valued at $3,597,000 after acquiring an additional 45,455 shares during the period. Diamond Hill Capital Management Inc. bought a new position in shares of International General Insurance in the 3rd quarter valued at about $3,338,000. Finally, Interval Partners LP lifted its stake in shares of International General Insurance by 15.5% during the 2nd quarter. Interval Partners LP now owns 114,650 shares of the company’s stock worth $1,605,000 after buying an additional 15,379 shares during the last quarter. 54.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upped their price target on shares of International General Insurance from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th.

International General Insurance Company Profile

International General Insurance Holdings Ltd. engages in the provision of specialty insurance and reinsurance solutions worldwide. The company operates through three segments: Specialty Long-tail, Specialty Short-tail, and Reinsurance. It is involved in underwriting a portfolio of specialty risks, including energy, property, construction and engineering, ports and terminals, general aviation, political violence, professional lines, financial institutions, motor, marine liability, contingency, marine, treaty, and casualty insurance and reinsurance.