Watford (NASDAQ:WTRE) Stock Rating Upgraded by Zacks Investment Research

Watford (NASDAQ:WTRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Zacks.com reports.

According to Zacks, “Watford Holdings Ltd. is a property and casualty insurance and reinsurance company. It operates primarily in Bermuda, the United States and Europe. The company combines a diversified, casualty-focused underwriting portfolio, accessed through a renewable strategic underwriting management relationship with Arch Capital Group Ltd. Watford Holdings Ltd. is based in Pembroke, Bermuda. “

Several other analysts have also issued reports on the company. Morgan Stanley cut their price objective on Watford from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Monday, May 18th. JMP Securities cut their price objective on Watford from $33.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, April 16th. ValuEngine upgraded Watford from a “buy” rating to a “strong-buy” rating in a report on Friday, May 1st. BidaskClub lowered Watford from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. cut their price objective on Watford from $22.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.75.

Shares of WTRE traded up $0.10 during mid-day trading on Friday, reaching $15.19. The company’s stock had a trading volume of 182,905 shares, compared to its average volume of 57,491. The business has a fifty day moving average of $14.89 and a 200 day moving average of $19.35. The company has a market cap of $300.10 million, a price-to-earnings ratio of -1.12 and a beta of 0.60. Watford has a 1 year low of $10.86 and a 1 year high of $28.90. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.31.

Watford (NASDAQ:WTRE) last released its earnings results on Monday, May 4th. The company reported ($13.42) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($13.69) by $0.27. Watford had a negative return on equity of 30.56% and a net margin of 8.38%. The company had revenue of ($122.53) million during the quarter. On average, analysts predict that Watford will post -11.1 earnings per share for the current year.

In other Watford news, CFO Robert L. Hawley bought 3,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $11.50 per share, with a total value of $34,500.00. Following the completion of the transaction, the chief financial officer now directly owns 21,078 shares of the company’s stock, valued at approximately $242,397. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Robert L. Hawley bought 2,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $23.88 per share, for a total transaction of $47,760.00. Following the completion of the transaction, the chief financial officer now directly owns 2,000 shares of the company’s stock, valued at $47,760. The disclosure for this purchase can be found here. Insiders have acquired 16,146 shares of company stock worth $224,658 over the last three months. Company insiders own 1.61% of the company’s stock.

Large investors have recently modified their holdings of the company. Denali Advisors LLC acquired a new stake in shares of Watford in the first quarter valued at about $34,000. Bank of Montreal Can grew its position in shares of Watford by 35.8% in the fourth quarter. Bank of Montreal Can now owns 2,415 shares of the company’s stock valued at $61,000 after purchasing an additional 637 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Watford by 601.6% in the first quarter. Tower Research Capital LLC TRC now owns 3,403 shares of the company’s stock valued at $50,000 after purchasing an additional 2,918 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Watford in the fourth quarter valued at about $90,000. Finally, Citigroup Inc. grew its position in shares of Watford by 667.9% in the fourth quarter. Citigroup Inc. now owns 3,901 shares of the company’s stock valued at $98,000 after purchasing an additional 3,393 shares during the last quarter. 31.08% of the stock is currently owned by institutional investors.

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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