The stock is trading at $16.80 just above the 50 day moving average which is $15.39 and which is well above the 200 day moving average of $13.90. The 50 day moving average was up $1.41 and the 200 day average was up $2.90. Trading was heavy with 494K shares changing hands by the end of trading on Tuesday. Volume was up 70.83% over the stocks average daily volume.
Investors are feeling more bearish on Third Point Reinsurance Ltd. of late if you put credence in the rise in short interest. The company had a rise in short interest from September 15, 2017 to September 29, 2017 of 136.28%. Short shares grew from 1,157,781 to 2,735,565 over that timeframe. Days to cover decreased -1.0 to 1.0 and the short interest percentage is 0.03% as of September 29.
Additionally, here are a few investment firms who have increased or decreased their stake in (TPRE). Squarepoint Ops LLC trimmed its ownership by shedding 2,700 shares a decrease of 17.8% in the quarter. Squarepoint Ops LLC claims 12,500 shares with a value of $174,000. The value of the position overall is down by 5.4%. Trexquant Investment Lp reduced its stake by selling 2,135 shares a decrease of 8.7% as of 06/30/2017. Trexquant Investment Lp owns 22,300 shares valued at $310,000. The total value of its holdings increased 9.9%.
Pine Brook Road Advisors, Lp divested its investment by shedding 5,070,671 shares a decrease of 60.6%. Pine Brook Road Advisors, Lp now controls 3,295,517 shares worth $45,808,000. The value of the position overall is down by 54.7%. As of quarter end Robeco Institutional Asset Management B.v. had bought 774,808 shares growing its holdings by 308.1%. The value of the investment in Third Point Reinsurance Ltd. increased from $3,496,000 to $16,009,000 a change of $12,513,000 since the last quarter.
On October 16, 2017 the stock rating was set at “Market Perform” by Keefe Bruyette & Woods a cut from the previous “Market Perform” rating.
The P/E ratio is 8.69 and the market cap of the company is 1.74B. In the latest earnings report the EPS was $1.93 and is expected to be $2.75 for the current year with 103,279,000 shares currently outstanding. Next quarter’s EPS is expected be $0.50 with next year’s EPS anticipated to be $2.18.
Third Point Reinsurance Ltd., launched on October 6, 2011, is a holding company. Through the Business’s reinsurance subsidiaries, it provides property and casualty reinsurance coverage to insurance and reinsurance companies. The Business’s segments include Property and Casualty Reinsurance, and Corporate. The Business’s investable assets are managed by its investment manager, Third Point LLC. The Company also writes reinsurance contracts that provide protection against adverse development on loss reserves. Through Third Point LLC, the Company makes investments globally in all sectors, and in equity, credit, commodity, currency, options and other instruments. The Company also acts as the underwriter for the majority of the premium that it underwrites..