Triple-S Management (GTS) Shares Down 5% Following Weak Earnings

Shares of Triple-S Management Corp. (NYSE:GTS) fell 5% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $20.13 and last traded at $20.89. 691,650 shares traded hands during trading, an increase of 326% from the average session 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 consensus estimate of $0.35 by ($1.32). Triple-S Management had a net margin of 0.38% and a return on equity of 7.33%. The company had revenue of $764.00 million for the quarter, compared to analysts’ expectations of $756.77 million. During the same quarter in the prior year, the firm earned $0.77 EPS. Triple-S Management’s quarterly revenue was up 4.5% compared to the same quarter last year.

Several brokerages recently issued reports on GTS. Zacks Investment Research cut shares of Triple-S Management from a “hold” rating to a “strong sell” rating in a research report on Friday. TheStreet cut shares of Triple-S Management from a “b” rating to a “c+” rating in a research report on Thursday, August 16th. Finally, ValuEngine cut shares of Triple-S Management from a “hold” rating to a “sell” rating in a research report on Tuesday, August 14th.

Large investors have recently bought and sold shares of the stock. AMP Capital Investors Ltd bought a new stake in Triple-S Management during the second quarter worth about $285,000. Robeco Institutional Asset Management B.V. boosted its stake in Triple-S Management by 34.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 142,410 shares of the company’s stock worth $5,563,000 after acquiring an additional 36,522 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Triple-S Management by 8.4% during the second quarter. Russell Investments Group Ltd. now owns 234,512 shares of the company’s stock worth $9,175,000 after acquiring an additional 18,119 shares in the last quarter. BlackRock Inc. boosted its stake in Triple-S Management by 1.5% during the second quarter. BlackRock Inc. now owns 1,618,552 shares of the company’s stock worth $63,221,000 after acquiring an additional 23,246 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Triple-S Management by 16.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 436,749 shares of the company’s stock worth $17,060,000 after acquiring an additional 60,567 shares in the last quarter. 84.41% of the stock is currently owned by institutional investors and hedge funds.

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

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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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