Triple-S Management Corporation (GTS) Insider Arturo Carrion Sells 1,100 Shares
Triple-S Management Corporation (NYSE:GTS) insider Arturo Carrion sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $23.80, for a total transaction of $26,180.00. Following the sale, the insider now owns 48,663 shares in the company, valued at $1,158,179.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Triple-S Management Corporation (NYSE:GTS) traded down 0.46% during mid-day trading on Wednesday, reaching $23.64. 170,926 shares of the company’s stock traded hands. The company has a market cap of $573.18 million, a price-to-earnings ratio of 31.48 and a beta of 0.58. Triple-S Management Corporation has a 12 month low of $15.05 and a 12 month high of $24.10. The company has a 50 day moving average of $17.22 and a 200 day moving average of $17.54.
Triple-S Management Corporation (NYSE:GTS) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.57. Triple-S Management Corporation had a return on equity of 0.19% and a net margin of 0.63%. The firm had revenue of $745.90 million for the quarter, compared to analyst estimates of $723.25 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Analysts expect that Triple-S Management Corporation will post $0.86 earnings per share for the current fiscal year.
Triple-S Management Corporation declared that its Board of Directors has initiated a stock buyback plan on Tuesday, August 8th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
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A number of institutional investors have recently modified their holdings of GTS. Strs Ohio raised its position in shares of Triple-S Management Corporation by 22.5% in the first quarter. Strs Ohio now owns 39,200 shares of the company’s stock valued at $688,000 after buying an additional 7,200 shares during the period. Heartland Advisors Inc. raised its position in shares of Triple-S Management Corporation by 26.0% in the first quarter. Heartland Advisors Inc. now owns 656,087 shares of the company’s stock valued at $11,527,000 after buying an additional 135,327 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Triple-S Management Corporation by 48.1% in the first quarter. Wedge Capital Management L L P NC now owns 16,481 shares of the company’s stock valued at $290,000 after buying an additional 5,354 shares during the period. Algert Global LLC raised its position in shares of Triple-S Management Corporation by 127.8% in the first quarter. Algert Global LLC now owns 85,257 shares of the company’s stock valued at $1,498,000 after buying an additional 47,833 shares during the period. Finally, Nine Chapters Capital Management LLC acquired a new position in shares of Triple-S Management Corporation during the first quarter valued at about $218,000. 80.91% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Triple-S Management Corporation from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a report on Friday, August 11th. BidaskClub upgraded shares of Triple-S Management Corporation from a “strong sell” rating to a “sell” rating in a report on Thursday, August 10th. Finally, Wells Fargo & Company upgraded shares of Triple-S Management Corporation from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $16.00 to $20.00 in a report on Wednesday, August 9th.
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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