Boothbay Fund Management LLC Takes $2.12 Million Position in SiriusPoint Ltd. (NYSE:SPNT)

Boothbay Fund Management LLC acquired a new position in shares of SiriusPoint Ltd. (NYSE:SPNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 129,062 shares of the company’s stock, valued at approximately $2,115,000. Boothbay Fund Management LLC owned 0.08% of SiriusPoint at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of SiriusPoint by 172.7% during the 3rd quarter. Barclays PLC now owns 210,545 shares of the company’s stock worth $3,018,000 after purchasing an additional 133,331 shares during the period. Principal Financial Group Inc. boosted its holdings in SiriusPoint by 1.4% during the third quarter. Principal Financial Group Inc. now owns 516,241 shares of the company’s stock worth $7,403,000 after buying an additional 7,320 shares in the last quarter. Hennessy Advisors Inc. grew its position in SiriusPoint by 6.8% during the fourth quarter. Hennessy Advisors Inc. now owns 784,105 shares of the company’s stock worth $12,851,000 after buying an additional 50,000 shares during the period. SG Americas Securities LLC acquired a new position in SiriusPoint during the fourth quarter worth about $185,000. Finally, Exchange Traded Concepts LLC grew its position in SiriusPoint by 4.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 123,912 shares of the company’s stock worth $2,031,000 after buying an additional 5,075 shares during the period. Hedge funds and other institutional investors own 52.79% of the company’s stock.

SiriusPoint Stock Down 0.3 %

SPNT stock opened at $16.55 on Monday. The company’s 50 day simple moving average is $15.70 and its 200-day simple moving average is $14.98. The firm has a market capitalization of $2.68 billion, a PE ratio of 17.24 and a beta of 0.72. SiriusPoint Ltd. has a 12 month low of $11.54 and a 12 month high of $17.99. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.57 and a quick ratio of 0.56.

SiriusPoint (NYSE:SPNT) last released its quarterly earnings results on Tuesday, February 18th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.49). The business had revenue of $612.80 million during the quarter. SiriusPoint had a net margin of 7.68% and a return on equity of 8.73%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. DOWLING & PARTN upgraded shares of SiriusPoint from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Jefferies Financial Group assumed coverage on shares of SiriusPoint in a research report on Tuesday, April 15th. They set a “hold” rating and a $17.00 target price on the stock.

Insider Buying and Selling

In other SiriusPoint news, Director Daniel S. Loeb sold 4,106,631 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.71, for a total transaction of $56,301,911.01. Following the transaction, the director now owns 9,428,008 shares of the company’s stock, valued at $129,257,989.68. This trade represents a 30.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 10.32% of the stock is owned by company insiders.

About SiriusPoint

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.