SiriusPoint (NYSE:SPNT) Shares Gap Up – What’s Next?

SiriusPoint Ltd. (NYSE:SPNT) gapped up before the market opened on Tuesday . The stock had previously closed at $14.20, but opened at $14.59. SiriusPoint shares last traded at $15.64, with a volume of 112,906 shares.

SiriusPoint Trading Up 13.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $2.60 billion, a PE ratio of 10.11 and a beta of 0.98. The business’s 50-day moving average is $14.64 and its two-hundred day moving average is $14.05.

Institutional Investors Weigh In On SiriusPoint

A number of institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC grew its stake in shares of SiriusPoint by 6.6% during the 2nd quarter. Natixis Advisors LLC now owns 17,167 shares of the company’s stock worth $209,000 after purchasing an additional 1,059 shares during the period. ClearAlpha Technologies LP purchased a new position in SiriusPoint in the third quarter valued at about $298,000. Sei Investments Co. boosted its stake in shares of SiriusPoint by 12.4% during the 2nd quarter. Sei Investments Co. now owns 22,580 shares of the company’s stock worth $275,000 after acquiring an additional 2,489 shares in the last quarter. Arizona State Retirement System raised its holdings in SiriusPoint by 3.2% during the second quarter. Arizona State Retirement System now owns 28,513 shares of the company’s stock worth $348,000 after purchasing an additional 880 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in SiriusPoint by 1.7% during the third quarter. Louisiana State Employees Retirement System now owns 47,100 shares of the company’s stock worth $675,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 52.79% of the company’s stock.

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.