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TheStreet Wire

Platinum Underwriters Stock Hits New 52-Week Low (PTP)

By TheStreet Wire 08/19/11 - 02:49 PM EDT

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NEW YORK (TheStreet) -- Platinum Underwriters Holdings (NYSE:PTP) hit a new 52-week low Friday as it is currently trading at $29.53, below its previous 52-week low of $29.59 with 180,680 shares traded as of 2:27 p.m. ET. Average volume has been 348,500 shares over the past 30 days.

Platinum Underwriters has a market cap of $1.2 billion and is part of the financial sector and insurance industry. Shares are down 32.9% year to date as of the close of trading on Thursday.

Platinum Underwriters Holdings, Ltd., through its subsidiaries, provides property and marine, casualty, and finite risk reinsurance products worldwide.

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TheStreet Ratings rates Platinum Underwriters as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Platinum Underwriters Ratings Report.

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