Third Point Reinsurance Ltd. (NYSE:TPRE) Short Interest Up by 13.02% – Shares Trading Down


Short traders are feeling a little more bearish on the company lately if you pay attention to the increase in short interest. The stock recorded a rise in short interest of 13.02% as of the latest report on August 31, 2017. Short shares increased from 1,131,192 to 1,278,487 over that timeframe. With short interest at 1,278,487 and short average daily volume at 406,071, days to cover is 3.0 and the percentage of shorted shares is 0.01% as of August 31.

A few notable investment firms have updated their holdings. Pine Brook Road Advisors, Lp downsized its investment by shedding 5,070,671 shares a decrease of 60.6% in the quarter. Pine Brook Road Advisors, Lp now controls 3,295,517 shares valued at $45,808,000. The total value of its holdings decreased 54.7%. As of quarter end Trexquant Investment Lp had sold 2,135 shares trimming its stake by 8.7%. The value of the total investment in Third Point Reinsurance Ltd. increased from $282,000 to $310,000 increasing 9.9% quarter over quarter.

As of the end of the quarter Squarepoint Ops LLC had disposed of a total of 2,700 shares trimming its holdings by 17.8%. The value of the company’s investment in Third Point Reinsurance Ltd. went from $184,000 to $174,000 a change of $10,000 for the reporting period. Ubs Group Ag cut its holdings by selling 201 shares a decrease of 11.4%. Ubs Group Ag claims 1,565 shares with a value of $22,000. The value of the position overall is up by 4.8%.

The company is down by 0.34% percent from yesterday’s close. Company shares last traded at $14.45 which is a tad above $14.31, the stock’s 50 day moving average and which is just a bit higher than the 200 day moving average of $13.23. The 50 day moving average was up $0.14 and the 200 day average moved up $1.22.

The P/E ratio is 7.48 and the market cap of the company is 1.49B. As of the latest earnings report the EPS was $1.93 and is projected to be $2.65 for the current year with 103,279,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.49 and the next full year EPS is projected to be $2.17.

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..