Third Point Reinsurance Ltd. (TPRE) Short Interest Update

Third Point Reinsurance Ltd. (NYSE:TPRE) was the recipient of a large growth in short interest in September. As of September 29th, there was short interest totalling 2,735,565 shares, a growth of 136.3% from the September 15th total of 1,157,781 shares. Based on an average daily trading volume, of 2,555,789 shares, the short-interest ratio is presently 1.1 days. Currently, 4.2% of the company’s shares are sold short.

Third Point Reinsurance (NYSE TPRE) opened at 16.65 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of 8.61 and a beta of 1.26. The company has a 50 day moving average price of $15.24 and a 200-day moving average price of $13.81. Third Point Reinsurance has a one year low of $11.05 and a one year high of $16.70.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. The company had revenue of $280.88 million for the quarter. Analysts expect that Third Point Reinsurance will post $2.75 EPS for the current fiscal year.

A number of research firms have issued reports on TPRE. Keefe, Bruyette & Woods cut Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a report on Monday. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, October 5th. ValuEngine upgraded Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Finally, BidaskClub upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in shares of Third Point Reinsurance by 4.5% during the second quarter. California State Teachers Retirement System now owns 136,079 shares of the insurance provider’s stock valued at $1,891,000 after purchasing an additional 5,894 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Third Point Reinsurance by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 5,808 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Third Point Reinsurance during the second quarter valued at approximately $224,000. State Street Corp boosted its position in shares of Third Point Reinsurance by 13.1% during the second quarter. State Street Corp now owns 1,357,110 shares of the insurance provider’s stock valued at $18,860,000 after purchasing an additional 157,443 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Third Point Reinsurance by 23.3% during the second quarter. Capital World Investors now owns 5,325,506 shares of the insurance provider’s stock valued at $74,025,000 after purchasing an additional 1,008,053 shares in the last quarter. Institutional investors own 68.70% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/20/third-point-reinsurance-ltd-tpre-short-interest-update.html.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance an

Third Point Reinsurance (NYSE TPRE) opened at 16.65 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of 8.61 and a beta of 1.26. The company has a 50 day moving average price of $15.24 and a 200-day moving average price of $13.81. Third Point Reinsurance has a one year low of $11.05 and a one year high of $16.70.

Third Point Reinsurance (NYSE:TPRE) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Third Point Reinsurance had a return on equity of 13.56% and a net margin of 22.18%. The company had revenue of $280.88 million for the quarter. Analysts expect that Third Point Reinsurance will post $2.75 EPS for the current fiscal year.

A number of research firms have issued reports on TPRE. Keefe, Bruyette & Woods cut Third Point Reinsurance from an “outperform” rating to a “market perform” rating in a report on Monday. Zacks Investment Research upgraded Third Point Reinsurance from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, October 5th. ValuEngine upgraded Third Point Reinsurance from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. Finally, BidaskClub upgraded Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $16.13.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in shares of Third Point Reinsurance by 4.5% during the second quarter. California State Teachers Retirement System now owns 136,079 shares of the insurance provider’s stock valued at $1,891,000 after purchasing an additional 5,894 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Third Point Reinsurance by 11.7% during the second quarter. The Manufacturers Life Insurance Company now owns 55,386 shares of the insurance provider’s stock valued at $769,000 after purchasing an additional 5,808 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Third Point Reinsurance during the second quarter valued at approximately $224,000. State Street Corp boosted its position in shares of Third Point Reinsurance by 13.1% during the second quarter. State Street Corp now owns 1,357,110 shares of the insurance provider’s stock valued at $18,860,000 after purchasing an additional 157,443 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Third Point Reinsurance by 23.3% during the second quarter. Capital World Investors now owns 5,325,506 shares of the insurance provider’s stock valued at $74,025,000 after purchasing an additional 1,008,053 shares in the last quarter. Institutional investors own 68.70% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://ledgergazette.com/2017/10/20/third-point-reinsurance-ltd-tpre-short-interest-update.html.

Third Point Reinsurance Company Profile

Third Point Reinsurance Ltd. is a holding company. Through the Company’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Company’s segments include Property and Casualty Reinsurance, and Corporate. The Company’s investable assets are managed by its investment manager, Third Point LLC.

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