Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Large Decrease in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 419,108 shares, a drop of 20.5% from the December 15th total of 526,946 shares. Based on an average daily trading volume, of 231,069 shares, the short-interest ratio is presently 1.8 days. Approximately 1.6% of the company’s stock are short sold. Approximately 1.6% of the company’s stock are short sold. Based on an average daily trading volume, of 231,069 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Greenlight Capital Re in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, insider Thomas James Curnock sold 9,942 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $12.58, for a total transaction of $125,070.36. Following the transaction, the insider owned 169,890 shares in the company, valued at approximately $2,137,216.20. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph P. Platt, Jr. bought 5,000 shares of the stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $12.97 per share, with a total value of $64,850.00. Following the purchase, the director owned 5,000 shares in the company, valued at $64,850. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 23.55% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Greenlight Capital Re by 184.6% during the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,749 shares in the last quarter. CWM LLC increased its position in Greenlight Capital Re by 25.7% in the second quarter. CWM LLC now owns 6,149 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 1,256 shares during the last quarter. Financial Consulate Inc. purchased a new stake in Greenlight Capital Re during the third quarter valued at $124,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Stock Down 0.7%

Shares of NASDAQ GLRE traded down $0.10 during midday trading on Monday, hitting $13.30. The stock had a trading volume of 104,763 shares, compared to its average volume of 132,363. The business’s 50 day moving average is $13.77 and its 200-day moving average is $13.17. Greenlight Capital Re has a 52 week low of $11.56 and a 52 week high of $15.06. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The company has a market cap of $453.53 million, a P/E ratio of -190.00 and a beta of 0.54.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data 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 negative return on equity of 0.28% and a negative net margin of 0.28%.The firm had revenue of $146.07 million during the quarter.

About Greenlight Capital Re

Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.

The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.