Short Interest in EMC Insurance Group Inc. (NASDAQ:EMCI) Rises By 19.5%

EMC Insurance Group Inc. (NASDAQ:EMCI) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 83,900 shares, a growth of 19.5% from the April 30th total of 70,200 shares. Based on an average daily volume of 23,800 shares, the short-interest ratio is currently 3.5 days. Approximately 1.1% of the company’s shares are short sold.

EMCI stock traded down $0.02 during trading on Friday, reaching $35.96. The stock had a trading volume of 9,747 shares, compared to its average volume of 21,270. EMC Insurance Group has a 52 week low of $22.98 and a 52 week high of $36.27. The firm’s 50 day moving average is $36.02. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $779.63 million, a price-to-earnings ratio of 32.99 and a beta of 0.33.

EMC Insurance Group (NASDAQ:EMCI) last posted its earnings results on Thursday, May 9th. The insurance provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.41. EMC Insurance Group had a return on equity of 6.00% and a net margin of 3.66%. The company had revenue of $181.60 million for the quarter. Research analysts predict that EMC Insurance Group will post 1.45 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Doyle Wealth Management bought a new position in EMC Insurance Group in the fourth quarter valued at about $43,000. JNBA Financial Advisors purchased a new stake in EMC Insurance Group in the fourth quarter worth about $48,000. Acadian Asset Management LLC purchased a new stake in EMC Insurance Group in the fourth quarter worth about $50,000. BNP Paribas Arbitrage SA increased its position in EMC Insurance Group by 444.8% in the first quarter. BNP Paribas Arbitrage SA now owns 1,934 shares of the insurance provider’s stock worth $62,000 after buying an additional 1,579 shares in the last quarter. Finally, Legal & General Group Plc increased its position in EMC Insurance Group by 39.4% in the fourth quarter. Legal & General Group Plc now owns 2,058 shares of the insurance provider’s stock worth $66,000 after buying an additional 582 shares in the last quarter. 27.50% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on the company. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th.

EMC Insurance Group Company Profile

EMC Insurance Group Inc, an insurance holding company, provides property and casualty insurance, and reinsurance products in the United States. It operates through two segments, Property and Casualty Insurance, and Reinsurance. The Property and Casualty Insurance segment underwrites commercial and personal lines of insurance products.

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