JMP Securities Begins Coverage on Watford (WTRE)

JMP Securities assumed coverage on shares of Watford (NASDAQ:WTRE) in a research note published on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $33.00 price target on the stock.

Several other brokerages have also issued reports on WTRE. JPMorgan Chase & Co. started coverage on Watford in a research note on Tuesday, April 23rd. They issued a neutral rating and a $30.00 price target on the stock. Barclays started coverage on Watford in a research note on Monday, April 22nd. They issued an equal weight rating and a $29.00 price target on the stock. Finally, Keefe, Bruyette & Woods started coverage on Watford in a research note on Sunday, May 12th. They issued a market perform rating and a $25.00 price target on the stock.

WTRE traded down $0.37 during trading on Thursday, hitting $25.24. The company’s stock had a trading volume of 1,331 shares, compared to its average volume of 68,440. Watford has a twelve month low of $23.70 and a twelve month high of $28.94.

Watford (NASDAQ:WTRE) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $2.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.72 by ($1.62). The business had revenue of $205.04 million during the quarter. Equities analysts predict that Watford will post 4.28 earnings per share for the current year.

In other news, Director Maamoun Rajeh acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was purchased at an average price of $27.30 per share, for a total transaction of $273,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alexandre Scherer acquired 1,200 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were purchased at an average price of $26.27 per share, with a total value of $31,524.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 52,000 shares of company stock worth $1,325,944.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Element Pointe Advisors LLC bought a new position in Watford during the 1st quarter valued at approximately $3,344,000. Price Wealth Management Inc. bought a new stake in shares of Watford in the 1st quarter worth $334,000. First Republic Investment Management Inc. bought a new stake in shares of Watford in the 1st quarter worth $334,000. JPMorgan Chase & Co. bought a new stake in shares of Watford in the 1st quarter worth $1,471,000. Finally, Blackstone Group L.P. bought a new stake in shares of Watford in the 1st quarter worth $1,605,000. Hedge funds and other institutional investors own 0.94% of the company’s stock.

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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