Some Traders Are Very Bullish on Enstar Group Limited (ESGR) After Forming Wedge Up Chart Pattern

September 8, 2018 - By Mark Babin

Enstar Group Limited (NASDAQ:ESGR) Logo

Investors sentiment decreased to 0.59 in 2018 Q1. Its down 0.54, from 1.13 in 2017Q4. It turned negative, as 16 investors sold Enstar Group Limited shares while 57 reduced holdings. 13 funds opened positions while 30 raised stakes. 13.24 million shares or 6.18% less from 14.11 million shares in 2017Q4 were reported.
Zebra Cap Management Lc owns 0.64% invested in Enstar Group Limited (NASDAQ:ESGR) for 8,570 shares. Aqr Capital Management Lc owns 22,365 shares. Alps Advisors Inc holds 2,234 shares. First Manhattan Company stated it has 0% of its portfolio in Enstar Group Limited (NASDAQ:ESGR). Sei reported 13 shares or 0% of all its holdings. Deutsche Fincl Bank Ag accumulated 13,880 shares or 0% of the stock. Us National Bank & Trust De reported 93 shares. New York State Common Retirement Fund owns 0.01% invested in Enstar Group Limited (NASDAQ:ESGR) for 46,750 shares. 13,075 are owned by Rhumbline Advisers. Torray Ltd Liability holds 0.08% or 3,614 shares. Akre Lc stated it has 3.88% in Enstar Group Limited (NASDAQ:ESGR). Citadel Advsr Ltd Limited Liability Company stated it has 0% in Enstar Group Limited (NASDAQ:ESGR). California-based Fdx Advisors has invested 0.02% in Enstar Group Limited (NASDAQ:ESGR). Bank & Trust Of New York Mellon Corp invested 0% of its portfolio in Enstar Group Limited (NASDAQ:ESGR). Bessemer Grp Inc holds 2,461 shares.

The stock of Enstar Group Limited (ESGR) formed an up wedge with $221.60 target or 5.00 % above today’s $211.05 share price. The 9 months wedge indicates low risk for the $4.53B company. If the $221.60 price target is reached, the company will be worth $226.40 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.21% or $0.45 during the last trading session, reaching $211.05. About 12,881 shares traded. Enstar Group Limited (NASDAQ:ESGR) has risen 8.82% since September 8, 2017 and is uptrending. It has underperformed by 3.75% the S&P500.

More recent Enstar Group Limited (NASDAQ:ESGR) news were published by: Globenewswire.com which released: “Enstar to Acquire Maiden’s North American Diversified Reinsurance Business” on August 31, 2018. Also Gurufocus.com published the news titled: “Arnold Van Den Berg Exits 1 Position in 2nd Quarter” on August 24, 2018. Streetinsider.com‘s news article titled: “Enstar Group (ESGR) Subsidiary Announces Acquisition of Maiden Reinsurance North America, Inc. from Maiden …” with publication date: August 31, 2018 was also an interesting one.

Enstar Group Limited acquires and manages insurance and reinsurance companies, and portfolios of insurance and reinsurance business in run-off. The company has market cap of $4.53 billion. It operates in three divisions: Non-Life Run-Off, Atrium, and StarStone. It has a 31.21 P/E ratio. The Non-Life Run-Off segment engages in the running off property and casualty, and other non-life lines of businesses.

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