Systematic Financial Management LP purchased a new position in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 68,610 shares of the financial services provider’s stock, valued at approximately $1,434,000. Systematic Financial Management LP owned approximately 0.18% of Greenlight Reinsurance as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GLRE. Dimensional Fund Advisors LP lifted its position in Greenlight Reinsurance by 9.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,792,332 shares of the financial services provider’s stock worth $39,611,000 after buying an additional 156,858 shares in the last quarter. Vanguard Group Inc. lifted its position in Greenlight Reinsurance by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 2,440,399 shares of the financial services provider’s stock worth $53,933,000 after buying an additional 149,781 shares in the last quarter. Morgan Stanley lifted its position in Greenlight Reinsurance by 6.0% during the 1st quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock worth $19,879,000 after buying an additional 50,646 shares in the last quarter. Renaissance Technologies LLC lifted its position in Greenlight Reinsurance by 13.7% during the 1st quarter. Renaissance Technologies LLC now owns 198,082 shares of the financial services provider’s stock worth $4,378,000 after buying an additional 23,798 shares in the last quarter. Finally, AXA acquired a new position in Greenlight Reinsurance during the 1st quarter worth about $375,000. Institutional investors and hedge funds own 45.43% of the company’s stock.

Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) opened at 21.10 on Tuesday. Greenlight Reinsurance, Ltd. has a 52-week low of $19.25 and a 52-week high of $24.10. The firm has a market capitalization of $787.90 million, a P/E ratio of 15.13 and a beta of 0.75. The firm’s 50-day moving average is $21.95 and its 200-day moving average is $21.32.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. The firm had revenue of $121.48 million for the quarter, compared to analyst estimates of $139.90 million. On average, equities analysts expect that Greenlight Reinsurance, Ltd. will post $0.77 earnings per share for the current year.

Several brokerages recently issued reports on GLRE. Zacks Investment Research upgraded shares of Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Monday. ValuEngine upgraded shares of Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Finally, BidaskClub upgraded shares of Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

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In other news, Director Leonard R. Goldberg sold 1,754 shares of Greenlight Reinsurance stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total transaction of $39,921.04. Following the sale, the director now directly owns 170,021 shares of the company’s stock, valued at $3,869,677.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leonard R. Goldberg sold 1,659 shares of Greenlight Reinsurance stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $22.75, for a total value of $37,742.25. Following the sale, the director now directly owns 170,021 shares in the company, valued at $3,867,977.75. The disclosure for this sale can be found here. Insiders have sold 7,546 shares of company stock worth $170,771 over the last three months. 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.

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

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