Third Point Reinsurance Ltd (NYSE:TPRE) Short Interest Update
Third Point Reinsurance Ltd (NYSE:TPRE) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,490,000 shares, a decline of 15.8% from the January 15th total of 1,770,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average trading volume of 481,800 shares, the days-to-cover ratio is presently 3.1 days.
Institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in shares of Third Point Reinsurance in the fourth quarter worth $47,000. Point72 Hong Kong Ltd bought a new position in shares of Third Point Reinsurance in the fourth quarter worth $64,000. Fox Run Management L.L.C. bought a new position in shares of Third Point Reinsurance in the third quarter worth $111,000. Bank of Montreal Can increased its holdings in shares of Third Point Reinsurance by 30.8% in the fourth quarter. Bank of Montreal Can now owns 10,913 shares of the insurance provider’s stock worth $115,000 after purchasing an additional 2,572 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Third Point Reinsurance by 17.0% in the fourth quarter. ProShare Advisors LLC now owns 12,221 shares of the insurance provider’s stock worth $129,000 after purchasing an additional 1,779 shares during the period. 66.10% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised shares of Third Point Reinsurance from a “sell” rating to a “hold” rating in a report on Sunday, November 3rd.
Third Point Reinsurance Company Profile
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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