Two Sigma Investments LP boosted its position in shares of Third Point Reinsurance Ltd (NYSE:TPRE) by 1,796.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 191,593 shares of the company’s stock after buying an additional 181,488 shares during the period. Two Sigma Investments LP owned approximately 0.18% of Third Point Reinsurance worth $2,213,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new stake in shares of Third Point Reinsurance during the fourth quarter worth approximately $278,000. Renaissance Technologies LLC boosted its stake in shares of Third Point Reinsurance by 101.1% in the fourth quarter. Renaissance Technologies LLC now owns 652,462 shares of the company’s stock worth $7,536,000 after buying an additional 327,962 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Third Point Reinsurance during the fourth quarter worth approximately $282,000. Teza Capital Management LLC purchased a new stake in shares of Third Point Reinsurance during the fourth quarter worth approximately $437,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Third Point Reinsurance by 460.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 509,680 shares of the company’s stock worth $5,887,000 after buying an additional 418,767 shares in the last quarter. Hedge funds and other institutional investors own 71.48% of the company’s stock.
Shares of Third Point Reinsurance Ltd (NYSE:TPRE) opened at 12.10 on Wednesday. The firm has a 50-day moving average of $11.92 and a 200-day moving average of $12.02. The firm has a market cap of $1.28 billion, a PE ratio of 46.36 and a beta of 1.18. Third Point Reinsurance Ltd has a 52 week low of $10.74 and a 52 week high of $13.03.
Third Point Reinsurance (NYSE:TPRE) last released its earnings results on Thursday, February 23rd. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.07. Third Point Reinsurance had a net margin of 15.99% and a return on equity of 8.30%. On average, analysts expect that Third Point Reinsurance Ltd will post $2.11 EPS for the current year.
Separately, Zacks Investment Research upgraded shares of Third Point Reinsurance from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 1st.
In other Third Point Reinsurance news, major shareholder Brook Lvr L.P. Pine sold 50,309 shares of the business’s stock in a transaction on Friday, January 13th. The shares were sold at an average price of $11.42, for a total transaction of $574,528.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,104,969 shares of company stock valued at $12,717,863 in the last 90 days. 36.10% of the stock is currently owned by company insiders.
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 operates through two segments: Property and Casualty Reinsurance, and Catastrophe Risk Management.
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