Gabe Hoffman’s Accipiter Capital Decreases Holding of Triple-S Management Corp. (GTS) Stock

Accipiter Capital Management and its manager, Gabe Hoffman, have started selling Triple-S Management Corp. (NYSE:GTS) shares. During the third quarter of 2013, Accipiter Capital had added 4% to their position. In a recent filing with the Securities and Exchange Commission, the fund has reported a decrease in their holding, from 2.28 million shares to 1.76 million shares. Accipiter’s new stake accounts for approximately 7% of the company’s common stock.

D. E. Shaw is bullish on this stock. His fund, D E Shaw, has increased its holding of Triple-S Management Corp. (NYSE:GTS) shares during the third quarter by 46%. The fund currently holds 136,966 shares with a reported value of $2.5 million. Another fund that has recently increased it’s investment in Triple-S Management is Lakewood Capital Management. The fund’s manager, Anthony Bozza has added 174 thousand shares to their portfolio and now hold 1.3 million shares. Thomas Ellis and Todd Hammer of North Run Capital have slightly decreased their exposure to the stock, reducing their holding by 6% to 1.6 million shares reportedly worth $29.8 million.

Gabe Hoffman Accipiter Capital Management

Gabe Hoffman Accipiter Capital Management

So far in 2013, Triple-S Management ‘s stock has been trending sideways, registering a high of $23.7 in June and then dropping back to the region of $18-$19 per share. The company has a market cap of 553 million, considering the current share price of $20.25. The stock is traded with a trailing Price to Earnings (P/E) ratio of 7.68 and does not pay a dividend. For the three months ended September 30, 2013, Triple-S Management Corp. (NYSE:GTS) reported revenues of $547 million and Earnings Per diluted Share (EPS) of $0.68, a 65% year-over-year increase. For the current quarter, analysts expect the company to post revenues of $574.8 million and EPS of $0.57.

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