SiriusPoint Ltd. (NYSE:SPNT) Short Interest Update

SiriusPoint Ltd. (NYSE:SPNTGet Rating) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 2,220,000 shares, a growth of 33.7% from the April 15th total of 1,660,000 shares. Based on an average trading volume of 445,000 shares, the days-to-cover ratio is presently 5.0 days. Approximately 2.6% of the company’s shares are sold short.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in SiriusPoint by 9.3% in the 4th quarter. Victory Capital Management Inc. now owns 140,069 shares of the company’s stock worth $1,139,000 after purchasing an additional 11,886 shares during the last quarter. Principal Financial Group Inc. increased its holdings in SiriusPoint by 11.5% in the third quarter. Principal Financial Group Inc. now owns 597,471 shares of the company’s stock worth $5,533,000 after buying an additional 61,478 shares during the last quarter. Alliancebernstein L.P. raised its position in SiriusPoint by 6.7% during the third quarter. Alliancebernstein L.P. now owns 113,400 shares of the company’s stock valued at $1,050,000 after acquiring an additional 7,110 shares in the last quarter. Arbiter Partners Capital Management LLC acquired a new stake in SiriusPoint in the third quarter valued at approximately $1,189,000. Finally, Invesco Ltd. grew its position in SiriusPoint by 2.4% in the third quarter. Invesco Ltd. now owns 1,410,308 shares of the company’s stock worth $13,060,000 after acquiring an additional 32,828 shares in the last quarter. 46.78% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SPNT opened at $6.05 on Monday. SiriusPoint has a 1-year low of $5.50 and a 1-year high of $11.13. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.69 and a quick ratio of 0.69. The business’s fifty day moving average price is $6.80 and its 200 day moving average price is $7.80.

SiriusPoint (NYSE:SPNTGet Rating) last released its earnings results on Wednesday, May 4th. The company reported ($1.36) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.96). SiriusPoint had a negative net margin of 15.82% and a negative return on equity of 13.95%.

Separately, TheStreet downgraded shares of SiriusPoint from a “c” rating to a “d+” rating in a research note on Friday, May 6th.

About SiriusPoint (Get Rating)

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 coverage to various product lines, which includes aviation and space, casualty, contingency, credit and bond, marine and energy, mortgage, and property to insurance and reinsurance companies, government entities, and other risk bearing vehicles.

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