Ryan Specialty (NYSE:RYAN) Shares Gap Down – Should You Sell?

Ryan Specialty Holdings Inc. (NYSE:RYAN)’s share price gapped down prior to trading on Tuesday. The stock had previously closed at $44.47, but opened at $42.92. Ryan Specialty shares last traded at $42.2860, with a volume of 307,090 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research downgraded shares of Ryan Specialty from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their target price on Ryan Specialty from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods upped their price objective on Ryan Specialty from $48.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Piper Sandler dropped their price objective on Ryan Specialty from $48.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 6th. Finally, Morgan Stanley increased their price objective on Ryan Specialty from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.21.

Ryan Specialty Stock Up 0.5%

The stock has a market cap of $10.90 billion, a P/E ratio of 59.15, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The firm has a 50 day simple moving average of $40.39 and a 200-day simple moving average of $39.24. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 3.51.

Ryan Specialty (NYSE:RYAN) last issued its earnings results on Thursday, July 30th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.60 by $0.14. Ryan Specialty had a return on equity of 43.97% and a net margin of 7.55%. The company had revenue of $916.65 million during the quarter, compared to the consensus estimate of $873.93 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Ryan Specialty Holdings Inc. will post 2.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ryan Specialty

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vancity Investment Management Ltd acquired a new position in Ryan Specialty in the 2nd quarter valued at $621,000. Guardian Point Capital LP increased its position in Ryan Specialty by 15.0% during the 1st quarter. Guardian Point Capital LP now owns 575,000 shares of the company’s stock worth $19,400,000 after buying an additional 75,000 shares during the period. Bank of America Corp DE lifted its holdings in shares of Ryan Specialty by 34.8% during the first quarter. Bank of America Corp DE now owns 1,508,083 shares of the company’s stock worth $50,883,000 after buying an additional 389,505 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in shares of Ryan Specialty by 20.0% during the second quarter. Vulcan Value Partners LLC now owns 7,912,669 shares of the company’s stock worth $298,782,000 after buying an additional 1,317,334 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Ryan Specialty during the first quarter worth $2,189,000. 84.82% of the stock is owned by institutional investors.

About Ryan Specialty

Ryan Specialty Holdings, Inc is a specialty insurance services company that provides wholesale brokerage, managing general underwriting and delegated authority solutions. The company works with retail insurance brokers, agents, carriers and other market participants to place and manage complex, specialty risks that may require specialized underwriting expertise or customized coverage.

Its business includes specialty insurance and reinsurance brokerage, underwriting management and insurance program administration.