Triple-S Management Corporation (GTS) Upgraded to Hold at BidaskClub
BidaskClub upgraded shares of Triple-S Management Corporation (NYSE:GTS) from a sell rating to a hold rating in a report issued on Thursday.
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Triple-S Management Corporation from a c rating to a b- rating in a research report on Thursday, August 17th. Zacks Investment Research raised shares of Triple-S Management Corporation from a sell rating to a hold rating in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company raised shares of Triple-S Management Corporation from an underperform rating to a market perform rating and lifted their price target for the company from $16.00 to $20.00 in a research report on Wednesday, August 9th.
Shares of Triple-S Management Corporation (NYSE GTS) traded up 0.29% during midday trading on Thursday, hitting $24.47. 36,936 shares of the company traded hands. The stock has a market capitalization of $593.30 million, a P/E ratio of 32.58 and a beta of 0.58. The stock’s 50-day moving average is $18.33 and its 200 day moving average is $17.74. Triple-S Management Corporation has a 12-month low of $15.05 and a 12-month high of $24.56.
Triple-S Management Corporation (NYSE:GTS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.57. Triple-S Management Corporation had a net margin of 0.63% and a return on equity of 0.19%. The business had revenue of $745.90 million during the quarter, compared to the consensus estimate of $723.25 million. During the same quarter last year, the firm posted $0.11 EPS. Triple-S Management Corporation’s revenue was down .9% compared to the same quarter last year. On average, analysts expect that Triple-S Management Corporation will post $0.86 earnings per share for the current year.
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Triple-S Management Corporation announced that its board has initiated a stock repurchase plan on Tuesday, August 8th that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
In related news, insider Arturo Carrion sold 1,100 shares of Triple-S Management Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $23.80, for a total value of $26,180.00. Following the completion of the sale, the insider now owns 48,663 shares of the company’s stock, valued at approximately $1,158,179.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in shares of Triple-S Management Corporation during the first quarter valued at $102,000. Public Employees Retirement System of Ohio boosted its position in shares of Triple-S Management Corporation by 16.0% in the first quarter. Public Employees Retirement System of Ohio now owns 5,826 shares of the company’s stock valued at $102,000 after buying an additional 803 shares during the period. UBS Group AG boosted its position in shares of Triple-S Management Corporation by 81.1% in the first quarter. UBS Group AG now owns 7,677 shares of the company’s stock valued at $135,000 after buying an additional 3,439 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Triple-S Management Corporation during the second quarter valued at $187,000. Finally, SG Americas Securities LLC bought a new position in shares of Triple-S Management Corporation during the first quarter valued at $189,000. Institutional investors and hedge funds own 80.91% of the company’s stock.
About Triple-S Management Corporation
Triple-S Management Corporation operates as a managed care company. The Company offers a range of managed care and related products in the commercial, Medicaid and Medicare markets. The Company’s segments include Managed Care, Life Insurance, and Property and Casualty Insurance. The Managed Care segment is engaged in the sale of managed care products to the Commercial, Medicare and Medicaid market sectors.
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