Triple-S Management (GTS) Shares Down 5% After Earnings Miss

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Triple-S Management Corp. (NYSE:GTS) dropped 5% during trading on Friday following a dissappointing earnings announcement. The company traded as low as $20.13 and last traded at $20.89. Approximately 691,650 shares traded hands during trading, an increase of 326% from the average daily volume of 162,309 shares. The stock had previously closed at $22.00.

The company reported ($0.97) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($1.32). The firm had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $756.77 million. Triple-S Management had a return on equity of 7.33% and a net margin of 0.38%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.

GTS has been the topic of several recent research reports. ValuEngine cut Triple-S Management from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 28th. Zacks Investment Research raised Triple-S Management from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, August 7th. Finally, TheStreet downgraded Triple-S Management from a “b” rating to a “c+” rating in a research report on Thursday, August 16th.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTS. Meeder Asset Management Inc. increased its position in shares of Triple-S Management by 69.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,139 shares of the company’s stock valued at $154,000 after purchasing an additional 3,343 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Triple-S Management during the 2nd quarter valued at approximately $196,000. Jane Street Group LLC bought a new position in shares of Triple-S Management during the 2nd quarter valued at approximately $243,000. Janney Montgomery Scott LLC bought a new position in shares of Triple-S Management during the 3rd quarter valued at approximately $251,000. Finally, First Hawaiian Bank bought a new position in shares of Triple-S Management during the 3rd quarter valued at approximately $263,000. 84.41% of the stock is currently owned by hedge funds and other institutional investors.

The stock has a market cap of $442.27 million, a price-to-earnings ratio of 11.05, a P/E/G ratio of 0.99 and a beta of 0.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.63 and a quick ratio of 0.63.

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About Triple-S Management (NYSE:GTS)

Triple-S Management Corporation, through its subsidiaries, provides a portfolio of managed care and related products in the commercial, Medicare, and Medicaid markets in Puerto Rico, the United States. The company operates through three segments: Managed Care, Life Insurance, and Property and Casualty Insurance.

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