SiriusPoint (NYSE:SPNT) Trading Down 5.2% – Should You Sell?

SiriusPoint Ltd. (NYSE:SPNT)’s share price dropped 5.2% during trading on Monday . The company traded as low as $13.19 and last traded at $13.22. Approximately 103,331 shares were traded during trading, a decline of 82% from the average daily volume of 574,270 shares. The stock had previously closed at $13.95.

SiriusPoint Price Performance

The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $14.35 and its 200-day moving average price is $13.22. The stock has a market capitalization of $2.30 billion, a PE ratio of 7.98 and a beta of 0.93.

SiriusPoint (NYSE:SPNT) last released its earnings results on Thursday, August 1st. The company reported $0.57 earnings per share for the quarter. SiriusPoint had a return on equity of 15.78% and a net margin of 13.24%. The firm had revenue of $743.30 million for the quarter.

Institutional Investors Weigh In On SiriusPoint

Several hedge funds have recently modified their holdings of the business. CWM LLC boosted its holdings 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 buying an additional 1,050 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of SiriusPoint during the first quarter worth $127,000. SG Americas Securities LLC purchased a new stake in shares of SiriusPoint during the 1st quarter valued at $142,000. Summit Global Investments acquired a new stake in shares of SiriusPoint in the 2nd quarter worth $166,000. Finally, ProShare Advisors LLC grew its stake in SiriusPoint by 8.8% during the 1st quarter. ProShare Advisors LLC now owns 14,775 shares of the company’s stock worth $188,000 after buying an additional 1,199 shares during the last quarter. 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.