Watford (NASDAQ:WTRE) Downgraded to Sell at Zacks Investment Research

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

A number of other equities analysts also recently weighed in on WTRE. JMP Securities assumed coverage on Watford in a research report on Thursday, May 16th. They set an “outperform” rating and a $33.00 price target for the company. Barclays assumed coverage on Watford in a research report on Monday, April 22nd. They set an “equal weight” rating and a $29.00 price target for the company. JPMorgan Chase & Co. assumed coverage on Watford in a research report on Tuesday, April 23rd. They set a “neutral” rating and a $30.00 price target for the company. Finally, Keefe, Bruyette & Woods assumed coverage on Watford in a research report on Sunday, May 12th. They set a “market perform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $29.25.

NASDAQ WTRE opened at $27.42 on Friday. The business’s 50 day simple moving average is $26.43. Watford has a 52-week low of $23.70 and a 52-week high of $28.99.

Watford (NASDAQ:WTRE) last posted its earnings results on Tuesday, April 30th. The company reported $2.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.72 by ($1.62). The company had revenue of $205.04 million during the quarter. On average, analysts anticipate that Watford will post 4.28 earnings per share for the current year.

In related news, insider Jon D. Levy acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average price of $25.94 per share, with a total value of $77,820.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jon D. Levy acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average cost of $24.77 per share, with a total value of $99,080.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 58,846 shares of company stock valued at $1,501,952.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTRE. First Republic Investment Management Inc. acquired a new stake in shares of Watford in the 1st quarter valued at approximately $334,000. Price Wealth Management Inc. acquired a new stake in shares of Watford in the 1st quarter valued at approximately $334,000. Finally, Element Pointe Advisors LLC acquired a new stake in shares of Watford in the 1st quarter valued at approximately $3,344,000. 1.21% of the stock is owned by institutional investors.

About Watford

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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