Shares of the company are trading at $16.70 which is marginally higher than the 50 day moving average of $15.81 and quite a bit above the 200 day moving average of $14.10. The 50 day moving average was up $0.89 or +5.66% and the 200 day average moved up $2.60. (NYSE:TPRE) shares saw light trading volume with 542K shares changing hands in the last trading session. Overall, volume was down 3.95% under the stocks normal daily volume.
Short traders are feeling a little more bearish on Third Point Reinsurance Ltd. if you consider the change in short interest. The firm saw a rise in short interest from September 29, 2017 to October 13, 2017 of 2.99%. Short interest grew 81,743 over that timeframe. The short-interest ratio increased to 5.0 and the percentage of shorted shares is 0.03% as of October 13.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Robeco Institutional Asset Management B.v. had bought 774,808 shares growing its holdings by 308.1%. The value of the company’s investment in Third Point Reinsurance Ltd. went from $3,496,000 to $16,009,000 increasing 357.9% quarter over quarter. Nationwide Fund Advisors downsized its investment by shedding 913 shares a decrease of 1.6% from 06/30/2017 to 09/30/2017. Nationwide Fund Advisors claims 57,985 shares with a value of $905,000. The total value of its holdings increased 10.5%.
As of quarter end First Trust Advisors Lp had acquired a total of 112,031 shares growing its position 329.0%. The value of the investment in TPRE increased from $473,000 to $2,279,000 a change of $1,806,000 quarter to quarter. Insight 2811, Inc. trimmed its holdings by selling 5,700 shares a decrease of 9.6%. Insight 2811, Inc. currently owns 53,420 shares worth $833,000. The value of the position overall is up by 1.3%.
On October 16, 2017 the stock rating was changed to “Market Perform” in a report from Keefe Bruyette & Woods down from the previous “Market Perform” rating.
The P/E ratio is currently 8.64 and the market cap of the company is 1.72B. In the last earnings report the EPS was $1.93 and is expected to be $2.75 for the current year with 103,279,000 shares outstanding. Next quarter’s EPS is forecasted at $0.50 and the next full year EPS is 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..