Watford Hldg Ltd (NASDAQ:WTRE) Given Consensus Rating of “Buy” by Brokerages

Shares of Watford Hldg Ltd (NASDAQ:WTRE) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of research firms have issued reports on WTRE. JPMorgan Chase & Co. decreased their target price on Watford from $22.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Morgan Stanley decreased 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 target price on shares of Watford from $33.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday, April 16th. Zacks Investment Research raised shares of Watford from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, ValuEngine raised shares of Watford from a “buy” rating to a “strong-buy” rating in a report on Friday, May 1st.

In other Watford news, CFO Robert L. Hawley acquired 2,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $23.88 per share, for a total transaction of $47,760.00. Following the completion of the transaction, the chief financial officer now owns 2,000 shares of the company’s stock, valued at approximately $47,760. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Maamoun Rajeh acquired 7,500 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $13.00 per share, with a total value of $97,500.00. Following the purchase, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $780,000. The disclosure for this purchase can be found here. Over the last three months, insiders bought 16,146 shares of company stock worth $224,658. Insiders own 1.61% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Watford by 14.3% during the first quarter. BlackRock Inc. now owns 1,336,718 shares of the company’s stock worth $19,583,000 after purchasing an additional 167,459 shares during the last quarter. Enstar Group LTD bought a new position in shares of Watford during the 4th quarter worth $25,673,000. State Street Corp increased its holdings in Watford by 0.3% during the first quarter. State Street Corp now owns 364,579 shares of the company’s stock valued at $5,341,000 after buying an additional 1,223 shares during the period. Davis Capital Partners LLC boosted its position in Watford by 16.9% during the first quarter. Davis Capital Partners LLC now owns 350,660 shares of the company’s stock valued at $5,137,000 after purchasing an additional 50,660 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Watford by 2,283.1% in the 4th quarter. Bank of America Corp DE now owns 272,986 shares of the company’s stock worth $6,868,000 after buying an additional 261,531 shares during the last quarter. 31.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:WTRE traded up $0.78 during midday trading on Wednesday, reaching $15.97. The company had a trading volume of 1,058 shares, compared to its average volume of 62,890. The stock has a market cap of $302.08 million, a P/E ratio of -1.12 and a beta of 0.59. The company’s 50 day moving average price is $14.89 and its 200 day moving average price is $19.35. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.31. Watford has a 52-week low of $10.86 and a 52-week high of $28.90.

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

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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