GAMMA Investing LLC Buys 73,420 Shares of SiriusPoint Ltd. (NYSE:SPNT)

GAMMA Investing LLC boosted its stake in shares of SiriusPoint Ltd. (NYSE:SPNT - Free Report) by 3,201.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,713 shares of the company's stock after purchasing an additional 73,420 shares during the period. GAMMA Investing LLC's holdings in SiriusPoint were worth $1,309,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of SiriusPoint by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,035,872 shares of the company's stock worth $180,878,000 after purchasing an additional 144,963 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of SiriusPoint by 8.5% in the 4th quarter. Wellington Management Group LLP now owns 10,694,214 shares of the company's stock valued at $175,278,000 after buying an additional 838,262 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in SiriusPoint by 12.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 7,887,887 shares of the company's stock worth $129,282,000 after buying an additional 900,209 shares during the last quarter. Dimensional Fund Advisors LP raised its position in SiriusPoint by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,568,197 shares of the company's stock valued at $124,018,000 after acquiring an additional 252,120 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in SiriusPoint by 17.8% in the fourth quarter. Capital Research Global Investors now owns 6,300,000 shares of the company's stock valued at $103,257,000 after acquiring an additional 950,000 shares during the last quarter. Institutional investors and hedge funds own 52.79% of the company's stock.

SiriusPoint Stock Performance

SPNT traded down $0.04 on Thursday, hitting $19.30. The company had a trading volume of 435,842 shares, compared to its average volume of 621,475. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 20.10 and a beta of 0.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.60 and a quick ratio of 0.60. The company's fifty day moving average price is $18.42 and its 200 day moving average price is $16.24. SiriusPoint Ltd. has a 1-year low of $11.96 and a 1-year high of $20.00.

SiriusPoint (NYSE:SPNT - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.23. SiriusPoint had a return on equity of 7.78% and a net margin of 6.30%. The company had revenue of $727.30 million for the quarter, compared to the consensus estimate of $688.00 million.

Analyst Ratings Changes

SPNT has been the subject of several recent research reports. DOWLING & PARTN raised shares of SiriusPoint from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Wall Street Zen upgraded shares of SiriusPoint from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Jefferies Financial Group started 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.

Insiders Place Their Bets

In related news, Director La Gueronniere Rafe De sold 30,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the director now directly owns 127,578 shares in the company, valued at $2,494,149.90. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.70% 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.