Ryan Specialty Holdings, Inc. (NYSE:RYAN) Short Interest Update

Ryan Specialty Holdings, Inc. (NYSE:RYAN) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 4,500,000 shares, a decrease of 19.5% from the December 31st total of 5,590,000 shares. Approximately 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 877,500 shares, the short-interest ratio is presently 5.1 days.

Insiders Place Their Bets

In other news, Director Nicholas Dominic Cortezi sold 31,409 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $65.64, for a total transaction of $2,061,686.76. Following the transaction, the director now owns 2,697 shares of the company’s stock, valued at approximately $177,031.08. The trade was a 92.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David P. Bolger sold 7,055 shares of Ryan Specialty stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $70.88, for a total transaction of $500,058.40. Following the transaction, the director now directly owns 78,149 shares of the company’s stock, valued at approximately $5,539,201.12. This represents a 8.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 338,296 shares of company stock worth $22,463,709. Corporate insiders own 11.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of Ryan Specialty by 115.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,833,209 shares of the company’s stock worth $117,619,000 after acquiring an additional 981,505 shares during the period. Jennison Associates LLC grew its holdings in shares of Ryan Specialty by 60.2% during the third quarter. Jennison Associates LLC now owns 1,025,063 shares of the company’s stock worth $68,054,000 after buying an additional 385,366 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Ryan Specialty by 32.1% in the third quarter. Eagle Asset Management Inc. now owns 1,380,510 shares of the company’s stock worth $98,555,000 after acquiring an additional 335,180 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Ryan Specialty by 43.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 938,187 shares of the company’s stock valued at $62,286,000 after purchasing an additional 286,380 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Ryan Specialty by 107.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 459,464 shares of the company’s stock valued at $30,504,000 after buying an additional 238,064 shares during the last quarter. 84.82% of the stock is owned by hedge funds and other institutional investors.

Ryan Specialty Stock Up 0.1 %

NYSE RYAN traded up $0.08 on Friday, hitting $66.69. 959,457 shares of the stock were exchanged, compared to its average volume of 936,214. The company has a market cap of $17.46 billion, a PE ratio of 86.61, a PEG ratio of 1.15 and a beta of 0.72. The company has a 50-day moving average price of $66.80 and a 200-day moving average price of $66.46. Ryan Specialty has a fifty-two week low of $42.21 and a fifty-two week high of $75.97. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

Ryan Specialty (NYSE:RYAN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. The business had revenue of $604.69 million during the quarter, compared to the consensus estimate of $602.04 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.32 EPS. Sell-side analysts anticipate that Ryan Specialty will post 1.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RYAN. Morgan Stanley began coverage on Ryan Specialty in a research note on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. Barclays lifted their price target on shares of Ryan Specialty from $76.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company decreased their price target on shares of Ryan Specialty from $68.00 to $64.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Keefe, Bruyette & Woods dropped their target price on Ryan Specialty from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America raised their price objective on shares of Ryan Specialty from $75.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.40.

About Ryan Specialty

Ryan Specialty Holdings, Inc operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, Europe, and Singapore. It offers distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter.