Short Interest in SiriusPoint Ltd. (NYSE:SPNT) Decreases By 16.9%

SiriusPoint Ltd. (NYSE:SPNT) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,210,000 shares, a decline of 16.9% from the March 15th total of 2,660,000 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 627,100 shares, the days-to-cover ratio is currently 3.5 days.

SiriusPoint Price Performance

Shares of NYSE:SPNT opened at $12.21 on Friday. The business’s 50 day simple moving average is $12.24 and its 200-day simple moving average is $11.31. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 6.20 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.58 and a quick ratio of 0.58. SiriusPoint has a 12 month low of $8.39 and a 12 month high of $13.03.

SiriusPoint (NYSE:SPNT) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.50 EPS for the quarter. The business had revenue of $645.80 million for the quarter. SiriusPoint had a return on equity of 17.48% and a net margin of 13.28%.

Institutional Investors Weigh In On SiriusPoint

Several institutional investors have recently modified their holdings of the company. UBS Group AG lifted its stake in SiriusPoint by 666.0% in the 3rd quarter. UBS Group AG now owns 6,044 shares of the company’s stock valued at $30,000 after buying an additional 5,255 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in SiriusPoint by 83.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,821 shares of the company’s stock valued at $36,000 after acquiring an additional 2,200 shares during the last quarter. Captrust Financial Advisors raised its holdings in SiriusPoint by 250.9% in the 1st quarter. Captrust Financial Advisors now owns 7,376 shares of the company’s stock valued at $55,000 after acquiring an additional 5,274 shares during the last quarter. Walleye Capital LLC acquired a new position in SiriusPoint in the 2nd quarter valued at $62,000. Finally, Jane Street Group LLC acquired a new position in SiriusPoint in the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.