Third Point Reinsurance Ltd (NYSE:TPRE) Short Interest Up 18.8% in December

Third Point Reinsurance Ltd (NYSE:TPRE) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,770,000 shares, a growth of 18.8% from the December 15th total of 1,490,000 shares. Based on an average daily volume of 469,100 shares, the short-interest ratio is currently 3.8 days. Approximately 2.2% of the shares of the company are sold short.

Separately, Zacks Investment Research upgraded shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a research note on Sunday, November 3rd.

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in Third Point Reinsurance during the 4th quarter worth approximately $47,000. Millennium Management LLC raised its stake in Third Point Reinsurance by 40.5% during the 3rd quarter. Millennium Management LLC now owns 479,942 shares of the insurance provider’s stock worth $4,794,000 after acquiring an additional 138,294 shares during the period. Barclays PLC raised its stake in Third Point Reinsurance by 17.3% during the 3rd quarter. Barclays PLC now owns 100,878 shares of the insurance provider’s stock worth $1,008,000 after acquiring an additional 14,880 shares during the period. California State Teachers Retirement System raised its stake in Third Point Reinsurance by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 115,179 shares of the insurance provider’s stock worth $1,151,000 after acquiring an additional 1,375 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in Third Point Reinsurance by 14.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,912,243 shares of the insurance provider’s stock worth $19,103,000 after acquiring an additional 234,310 shares during the period. Hedge funds and other institutional investors own 66.14% of the company’s stock.

Shares of NYSE:TPRE traded down $0.04 during trading on Tuesday, hitting $10.51. The company’s stock had a trading volume of 451,100 shares, compared to its average volume of 472,311. The company has a 50-day moving average of $10.10 and a 200-day moving average of $9.93. Third Point Reinsurance has a 12 month low of $9.16 and a 12 month high of $11.95. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $994.02 million, a price-to-earnings ratio of -3.21, a P/E/G ratio of 0.36 and a beta of 1.08.

Third Point Reinsurance (NYSE:TPRE) last issued its quarterly earnings data on Tuesday, November 5th. The insurance provider reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The firm had revenue of $200.11 million for the quarter. As a group, research analysts anticipate that Third Point Reinsurance will post 2.07 earnings per share for the current year.

About Third Point Reinsurance

Third Point Reinsurance Ltd., through its subsidiaries, provides specialty property and casualty reinsurance products to insurance and reinsurance companies worldwide. It underwrites homeowners' and commercial, workers' compensation, personal automobile, mortgage, and multi-line reinsurance products; professional, transactional, and general liability reinsurance products; and marine, travel, and extended warranty reinsurance products.

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