Greenlight Capital Re (NASDAQ:GLRE) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $13.23 and traded as high as $13.35. Greenlight Capital Re shares last traded at $13.16, with a volume of 88,656 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Greenlight Capital Re from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Greenlight Capital Re has a consensus rating of “Hold”.

Greenlight Capital Re Trading Down 1.1%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50 day moving average of $12.57 and a 200 day moving average of $13.23. The stock has a market capitalization of $450.05 million, a price-to-earnings ratio of 12.30 and a beta of 0.60.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Monday, November 3rd. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.23). Greenlight Capital Re had a return on equity of 5.75% and a net margin of 5.37%.The business had revenue of $184.38 million during the quarter.

Insider Activity

In other news, Director Ian Isaacs sold 8,393 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $12.79, for a total transaction of $107,346.47. Following the sale, the director owned 71,137 shares of the company’s stock, valued at approximately $909,842.23. The trade was a 10.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas James Curnock sold 9,942 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $12.58, for a total value of $125,070.36. Following the completion of the transaction, the insider owned 169,890 shares in the company, valued at $2,137,216.20. This represents a 5.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Greenlight Capital Re by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock worth $18,667,000 after purchasing an additional 49,929 shares during the period. Private Management Group Inc. lifted its position in Greenlight Capital Re by 12.8% in the third quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after buying an additional 136,041 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in Greenlight Capital Re by 5.6% during the third quarter. CWA Asset Management Group LLC now owns 914,398 shares of the financial services provider’s stock worth $11,613,000 after buying an additional 48,601 shares during the period. Ameriprise Financial Inc. boosted its stake in Greenlight Capital Re by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after buying an additional 2,180 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Greenlight Capital Re by 12.7% during the first quarter. American Century Companies Inc. now owns 529,547 shares of the financial services provider’s stock valued at $7,175,000 after acquiring an additional 59,787 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

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.