Boothbay Fund Management LLC Takes Position in SiriusPoint Ltd. (NYSE:SPNT)

Boothbay Fund Management LLC bought a new stake in SiriusPoint Ltd. (NYSE:SPNT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 129,062 shares of the company’s stock, valued at approximately $2,115,000.

A number of other hedge funds have also made changes to their positions in SPNT. Gilder Gagnon Howe & Co. LLC increased its stake in SiriusPoint by 12.8% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 2,643,704 shares of the company’s stock worth $43,330,000 after buying an additional 299,114 shares during the period. Price T Rowe Associates Inc. MD increased its stake in SiriusPoint by 481.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 317,560 shares of the company’s stock worth $5,206,000 after buying an additional 262,981 shares during the period. Quantessence Capital LLC purchased a new stake in SiriusPoint during the 4th quarter worth $183,000. Tower Research Capital LLC TRC increased its stake in SiriusPoint by 25.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,568 shares of the company’s stock worth $173,000 after buying an additional 2,115 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in SiriusPoint by 19.2% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 31,027 shares of the company’s stock worth $509,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Performance

Shares of SPNT stock opened at $16.55 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.56 and a current ratio of 0.57. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 17.24 and a beta of 0.72. SiriusPoint Ltd. has a one year low of $11.54 and a one year high of $17.99. The company’s 50-day simple moving average is $15.70 and its 200-day simple moving average is $14.98.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings data on Tuesday, February 18th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.49). SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%. The firm had revenue of $612.80 million for the quarter.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a research note on Tuesday, April 15th. They set a “hold” rating and a $17.00 price target on the stock. DOWLING & PARTN raised shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th.

Insider Buying and Selling at SiriusPoint

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the sale, the director now owns 9,428,008 shares in the company, valued at $129,257,989.68. This represents a 30.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 10.32% of the stock is currently owned by insiders.

SiriusPoint Profile

SiriusPoint Ltd. provides multi-line insurance and reinsurance products and services worldwide. The company operates through two segments, Reinsurance, and Insurance & Services. The Reinsurance segment provides aviation and space, accident and health, casualty, credit, marine and energy, property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.