Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Significant Decline in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 445,600 shares, a drop of 7.1% from the March 15th total of 479,900 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 80,900 shares, the days-to-cover ratio is presently 5.5 days.

Greenlight Capital Re Stock Down 1.2 %

Shares of NASDAQ:GLRE opened at $12.16 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.29 and a current ratio of 3.29. Greenlight Capital Re has a 52 week low of $9.48 and a 52 week high of $12.89. The company has a 50 day moving average price of $12.11 and a two-hundred day moving average price of $11.50. The company has a market capitalization of $429.98 million, a PE ratio of 5.11 and a beta of 0.82.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, March 5th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter. Greenlight Capital Re had a return on equity of 15.48% and a net margin of 13.32%. The firm had revenue of $143.01 million during the quarter.

Insider Buying and Selling at Greenlight Capital Re

In related news, Director Ian Isaacs sold 9,019 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $12.00, for a total value of $108,228.00. Following the completion of the transaction, the director now owns 87,591 shares in the company, valued at approximately $1,051,092. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 27.10% of the company’s stock.

Institutional Trading of Greenlight Capital Re

Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Greenlight Capital Re by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,902,489 shares of the financial services provider’s stock worth $21,726,000 after acquiring an additional 104,721 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Greenlight Capital Re by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 1,334,975 shares of the financial services provider’s stock valued at $15,245,000 after purchasing an additional 20,735 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Greenlight Capital Re by 7.1% during the second quarter. Geode Capital Management LLC now owns 524,854 shares of the financial services provider’s stock worth $5,529,000 after buying an additional 34,643 shares during the period. Finally, State Street Corp grew its holdings in shares of Greenlight Capital Re by 1.5% during the second quarter. State Street Corp now owns 495,411 shares of the financial services provider’s stock worth $3,830,000 after buying an additional 7,358 shares in the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Greenlight Capital Re from a “hold” rating to a “buy” rating in a research report on Monday, January 29th.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.