Credit Suisse AG reduced its stake in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,528 shares of the financial services provider’s stock after selling 9,108 shares during the period. Credit Suisse AG owned 0.07% of Greenlight Reinsurance worth $542,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Greenlight Reinsurance by 13.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 116,470 shares of the financial services provider’s stock valued at $2,574,000 after buying an additional 13,885 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Greenlight Reinsurance by 13.7% in the first quarter. Renaissance Technologies LLC now owns 198,082 shares of the financial services provider’s stock valued at $4,378,000 after buying an additional 23,798 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of Greenlight Reinsurance by 72.4% in the first quarter. Citadel Advisors LLC now owns 40,251 shares of the financial services provider’s stock valued at $889,000 after buying an additional 16,903 shares in the last quarter. Morgan Stanley increased its stake in shares of Greenlight Reinsurance by 6.0% in the first quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock valued at $19,879,000 after buying an additional 50,646 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Greenlight Reinsurance by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,792,332 shares of the financial services provider’s stock valued at $39,611,000 after buying an additional 156,858 shares in the last quarter. Institutional investors own 45.43% of the company’s stock.

Shares of Greenlight Reinsurance, Ltd. (GLRE) traded up 1.14% during trading on Thursday, reaching $22.25. 24,145 shares of the company traded hands. The stock has a market capitalization of $830.84 million, a P/E ratio of 15.95 and a beta of 0.77. The firm’s 50 day moving average is $21.84 and its 200-day moving average is $21.52. Greenlight Reinsurance, Ltd. has a 12-month low of $19.25 and a 12-month high of $24.10.

Greenlight Reinsurance (NASDAQ:GLRE) last posted its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. The business had revenue of $121.48 million during the quarter, compared to analyst estimates of $139.90 million. On average, equities research analysts anticipate that Greenlight Reinsurance, Ltd. will post $0.75 earnings per share for the current fiscal year.

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Several brokerages have recently commented on GLRE. Zacks Investment Research upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Monday. ValuEngine upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. BidaskClub upgraded Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, TheStreet downgraded Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th.

In other news, Director Leonard R. Goldberg sold 1,659 shares of Greenlight Reinsurance stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $22.75, for a total value of $37,742.25. Following the transaction, the director now owns 170,021 shares of the company’s stock, valued at approximately $3,867,977.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sherry Diaz sold 3,055 shares of Greenlight Reinsurance stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $23.00, for a total transaction of $70,265.00. Following the completion of the transaction, the insider now directly owns 33,500 shares in the company, valued at approximately $770,500. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,066 shares of company stock valued at $181,317. Company insiders own 21.81% of the company’s stock.

Greenlight Reinsurance Company Profile

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.

Institutional Ownership by Quarter for Greenlight Reinsurance (NASDAQ:GLRE)

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