SiriusPoint Ltd. (NYSE:SPNT) Sees Significant Growth in Short Interest

SiriusPoint Ltd. (NYSE:SPNT) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,740,000 shares, an increase of 26.1% from the June 30th total of 1,380,000 shares. Based on an average daily volume of 629,800 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.8% of the shares of the company are short sold.

SiriusPoint Stock Up 1.6 %

SiriusPoint stock opened at $14.38 on Friday. The company’s 50-day moving average price is $12.77 and its two-hundred day moving average price is $12.33. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 8.56 and a beta of 0.94. SiriusPoint has a 52 week low of $9.24 and a 52 week high of $14.55. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.32.

SiriusPoint (NYSE:SPNT) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.49 EPS for the quarter. SiriusPoint had a net margin of 11.57% and a return on equity of 14.59%. The business had revenue of $685.50 million for the quarter.

Hedge Funds Weigh In On SiriusPoint

Hedge funds have recently modified their holdings of the company. Texas Permanent School Fund Corp boosted its position in shares of SiriusPoint by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 79,199 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,026 shares in the last quarter. CWM LLC boosted its position in shares of SiriusPoint by 84.7% in the 2nd quarter. CWM LLC now owns 2,289 shares of the company’s stock valued at $28,000 after purchasing an additional 1,050 shares during the period. ProShare Advisors LLC increased its stake in SiriusPoint by 8.8% in the 1st quarter. ProShare Advisors LLC now owns 14,775 shares of the company’s stock worth $188,000 after purchasing an additional 1,199 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in SiriusPoint by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,300 shares of the company’s stock worth $565,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in SiriusPoint by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,397 shares of the company’s stock worth $539,000 after buying an additional 2,800 shares during the period. 52.79% of the stock is currently owned by institutional investors and hedge funds.

SiriusPoint Company 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.