Ryan Specialty (NYSE:RYAN) Shares Gap Down After Earnings Miss

Ryan Specialty Holdings, Inc. (NYSE:RYAN) shares gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $68.60, but opened at $62.50. Ryan Specialty shares last traded at $66.02, with a volume of 362,389 shares trading hands.

The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.02). The company had revenue of $663.53 million during the quarter, compared to the consensus estimate of $658.80 million. Ryan Specialty had a net margin of 10.31% and a return on equity of 47.90%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RYAN shares. Morgan Stanley assumed coverage on Ryan Specialty in a research report on Thursday, December 5th. They issued an “overweight” rating and a $90.00 target price on the stock. Barclays lifted their price objective on shares of Ryan Specialty from $76.00 to $88.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their target price on shares of Ryan Specialty from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ryan Specialty from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.80.

Insider Buying and Selling

In other Ryan Specialty news, Director Nicholas Dominic Cortezi sold 35,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $66.71, for a total transaction of $2,334,850.00. Following the sale, the director now directly owns 60,200 shares in the company, valued at $4,015,942. This represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 316,451 shares of company stock valued at $20,907,793 over the last 90 days. 11.10% of the stock is owned by corporate insiders.

Institutional Trading of Ryan Specialty

Several large investors have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new position in Ryan Specialty during the third quarter valued at approximately $25,000. Rakuten Securities Inc. bought a new position in shares of Ryan Specialty in the fourth quarter worth about $27,000. Assetmark Inc. acquired a new position in Ryan Specialty during the 3rd quarter worth approximately $34,000. Kapitalo Investimentos Ltda bought a new position in Ryan Specialty in the 4th quarter valued at approximately $36,000. Finally, Principal Securities Inc. boosted its position in Ryan Specialty by 164.7% in the fourth quarter. Principal Securities Inc. now owns 667 shares of the company’s stock valued at $43,000 after buying an additional 415 shares in the last quarter. Institutional investors and hedge funds own 84.82% of the company’s stock.

Ryan Specialty Trading Down 4.1 %

The business’s 50 day simple moving average is $65.61 and its two-hundred day simple moving average is $67.26. The stock has a market cap of $17.23 billion, a P/E ratio of 85.49, a PEG ratio of 1.21 and a beta of 0.72. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 2.40.

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.