Shares of global insurance underwriter SiriusPoint (NYSE:SPNT) jumped 3.1% in the morning session after B. Riley initiated coverage on the company with a "Buy" rating and a $33 price target.
The Russell 2000 (^RUT) is home to many small-cap stocks, offering investors the chance to uncover hidden gems before the broader market catches on.
However, these companies often come with higher volatility and risk, as their smaller size makes them more vulnerable to economic downturns.
SiriusPoint buys back shares and warrants from CM Bermuda for $733 million, ending their ownership. Deal strengthens financials and boosts shareholder value.
