Enstar Group Limited (NASDAQ:ESGR) Sees Significant Decline in Short Interest

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Enstar Group

A number of large investors have recently made changes to their positions in the stock. Glazer Capital LLC purchased a new stake in Enstar Group during the third quarter worth about $59,941,000. Alpine Associates Management Inc. acquired a new stake in shares of Enstar Group during the 3rd quarter valued at approximately $24,465,000. Slotnik Capital LLC purchased a new stake in shares of Enstar Group during the 3rd quarter worth approximately $10,291,000. Dimensional Fund Advisors LP boosted its stake in shares of Enstar Group by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 793,067 shares of the insurance provider’s stock worth $242,442,000 after acquiring an additional 30,831 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Enstar Group in the 2nd quarter worth approximately $7,394,000. Hedge funds and other institutional investors own 81.01% of the company’s stock.

Enstar Group Stock Performance

Shares of ESGR stock opened at $324.45 on Monday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.33. The stock has a 50 day simple moving average of $324.10 and a 200-day simple moving average of $321.15. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 4.91 and a beta of 0.65. 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 data on Tuesday, November 12th. The insurance provider reported $8.51 earnings per share for the quarter. Enstar Group had a return on equity of 17.33% and a net margin of 73.26%. The firm had revenue of $177.00 million for 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.