RNR faces Q1 earnings on April 28 with modest short positioning and mixed analyst signals. Street target of $326 implies 5.6% upside, though recent downgrades temper enthusiasm.
Short interest sits at 2.10% of free float as of April 23, ticking up 0.6% over one day but down 0.4% over the past week. Days to cover remains light at 4.1 days. Cost to borrow stands at 0.49%, up 8% over the past week and 33% over the month. Utilization is minimal at 1.29%, well below the 52-week high of 8.02%. The low borrow costs and utilization suggest ample availability for shorts, though few are taking aggressive positions.
The put/call ratio sits at 0.33, hovering near the 20-day mean of 0.33 with a z-score of -0.14. Call buyers maintain a slight edge. The ratio trades well above the 52-week low of 0.14 but far below the high of 1.04, indicating balanced sentiment heading into the print.
Wall Street analysts maintain a mixed stance. The average price target of $326 sits 5.6% above the current $309 close. Recent firm-level moves show divergence: B of A Securities cut its target from $473 to $426 on April 14, though it kept a Buy rating. Cantor Fitzgerald upgraded to Overweight and raised its target to $340 on April 9. Evercore ISI lifted its target to $309 from $291, while Wells Fargo trimmed to $305. Barclays raised to $341, the highest recent call. Benzinga's bull case highlights 's 8% catastrophe premium growth, led by 13% U.S. expansion in its "highest marginal return business." The bear case warns of soft pricing pressure constraining valuation multiples and high EPS sensitivity.
The stock trades at a P/E of 8.0, up 0.43 points over the past 30 days. Price-to-book stands at 1.11, climbing 0.07 over the month. RNR ranks in the 74th percentile on 30-day EPS momentum and the 79th on 90-day EPS momentum. EPS surprise scores the 91st percentile. The 93rd-percentile analyst recommendation differential suggests unusual analyst optimism relative to peers. Dividend score hits the 82nd percentile.
Insiders sold $14.8 million net over the past 90 days. CEO Kevin O'Donnell accounted for $3.2 million across multiple March and February transactions. CFO Robert Qutub and EVP David Marra also trimmed holdings. Vanguard leads institutional holders at 11.0% of shares, adding 85,329 shares in Q1. BlackRock holds 9.6%, Capital Research 5.9%. Orbis Investment Management initiated a new 1.5% position worth $635,000 shares in Q4.
RNR last reported on February 4, February 3 (twice scheduled), and January 28. The stock is down 1.3% over the past day and 1.8% over the week, though it gained 5.2% over the month.
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