Watford Hldg Ltd (NASDAQ:WTRE) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 450,800 shares, a growth of 20.3% from the July 31st total of 374,700 shares. Based on an average daily volume of 168,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.3% of the company’s shares are short sold.
NASDAQ:WTRE traded up $0.65 on Friday, reaching $26.83. The company’s stock had a trading volume of 114,422 shares, compared to its average volume of 102,360. Watford has a 1-year low of $18.75 and a 1-year high of $28.99. The stock’s 50-day moving average price is $23.27.
Watford (NASDAQ:WTRE) last posted its earnings results on Monday, July 29th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.30). The business had revenue of $175.78 million during the quarter. As a group, equities analysts expect that Watford will post 3.84 earnings per share for the current year.
In related news, insider Jon D. Levy acquired 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $20.99 per share, for a total transaction of $31,485.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nicolas Papadopoulo acquired 25,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was bought at an average price of $19.48 per share, with a total value of $496,740.00. The disclosure for this purchase can be found here. Insiders purchased 59,700 shares of company stock valued at $1,184,930 in the last quarter.
Large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in Watford in the second quarter valued at about $27,000. Strs Ohio acquired a new position in Watford in the second quarter valued at about $148,000. JPMorgan Chase & Co. grew its stake in Watford by 762.0% in the second quarter. JPMorgan Chase & Co. now owns 474,114 shares of the company’s stock valued at $12,976,000 after acquiring an additional 419,114 shares during the period. First Republic Investment Management Inc. acquired a new position in Watford in the first quarter valued at about $334,000. Finally, Bank of New York Mellon Corp acquired a new position in Watford in the second quarter valued at about $1,607,000. 12.35% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research reiterated a “hold” rating on shares of Watford in a report on Sunday, September 8th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.20.
Watford Company Profile
Watford Holdings Ltd., together with its subsidiaries, operates as a property, casualty, and mortgage insurance and reinsurance company worldwide. The company was founded in 2013 and is headquartered in Pembroke, Bermuda.
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