Triple-S Management Corporation (GTS) Lifted to “Hold” at ValuEngine
Triple-S Management Corporation (NYSE:GTS) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
GTS has been the topic of several other research reports. Zacks Investment Research lowered shares of Triple-S Management Corporation from a “hold” rating to a “strong sell” rating in a report on Thursday, May 11th. BidaskClub raised shares of Triple-S Management Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. TheStreet raised shares of Triple-S Management Corporation from a “c” rating to a “b-” rating in a report on Thursday, August 17th. Finally, Wells Fargo & Company raised shares of Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and increased their target price for the company from $16.00 to $20.00 in a report on Wednesday, August 9th. Three research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $23.00.
Shares of Triple-S Management Corporation (GTS) traded up 0.73% during trading on Tuesday, reaching $24.69. The company had a trading volume of 101,020 shares. The company has a market cap of $598.63 million, a price-to-earnings ratio of 32.88 and a beta of 0.58. Triple-S Management Corporation has a 12 month low of $15.05 and a 12 month high of $24.74. The firm has a 50 day moving average price of $18.56 and a 200 day moving average price of $17.78.
Triple-S Management Corporation (NYSE:GTS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.57. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $723.25 million. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts predict that Triple-S Management Corporation will post $0.86 earnings per share for the current year.
Triple-S Management Corporation announced that its Board of Directors has authorized a stock buyback plan on Tuesday, August 8th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Triple-S Management Corporation news, insider Arturo Carrion sold 1,100 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.80, for a total transaction of $26,180.00. Following the completion of the sale, the insider now owns 48,663 shares of the company’s stock, valued at approximately $1,158,179.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.52% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Legal & General Group Plc purchased a new stake in shares of Triple-S Management Corporation during the first quarter valued at $102,000. Public Employees Retirement System of Ohio boosted its stake in shares of Triple-S Management Corporation by 16.0% in the first quarter. Public Employees Retirement System of Ohio now owns 5,826 shares of the company’s stock valued at $102,000 after buying an additional 803 shares during the last quarter. UBS Group AG boosted its stake in shares of Triple-S Management Corporation by 81.1% in the first quarter. UBS Group AG now owns 7,677 shares of the company’s stock valued at $135,000 after buying an additional 3,439 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Triple-S Management Corporation during the second quarter valued at $187,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Triple-S Management Corporation during the first quarter valued at $189,000. 80.48% of the stock is owned by institutional investors and hedge funds.
About Triple-S Management Corporation
Triple-S Management Corporation operates as a managed care company. The Company offers a range of managed care and related products in the commercial, Medicaid and Medicare markets. The Company’s segments include Managed Care, Life Insurance, and Property and Casualty Insurance. The Managed Care segment is engaged in the sale of managed care products to the Commercial, Medicare and Medicaid market sectors.
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