Greenlight Capital Re (NASDAQ:GLRE) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.20 and traded as high as $13.98. Greenlight Capital Re shares last traded at $13.94, with a volume of 80,743 shares.

Analyst Upgrades and Downgrades

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

Greenlight Capital Re Trading Up 1.0%

The company has a market cap of $475.35 million, a price-to-earnings ratio of -199.14 and a beta of 0.54. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $14.00 and its 200-day moving average price is $13.20.

Insider Buying and Selling

In other news, Director Joseph P. Platt, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average cost of $12.97 per share, with a total value of $64,850.00. Following the acquisition, the director owned 5,000 shares in the company, valued at approximately $64,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ursuline F. Foley purchased 5,000 shares of Greenlight Capital Re stock in a transaction that occurred on Thursday, November 20th. The stock was purchased at an average price of $12.92 per share, with a total value of $64,600.00. Following the completion of the purchase, the director directly owned 54,100 shares in the company, valued at $698,972. This trade represents a 10.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 23.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greenlight Capital Re

A number of hedge funds have recently bought and sold shares of GLRE. CWM LLC increased its stake in shares of Greenlight Capital Re by 25.7% in the 2nd quarter. CWM LLC now owns 6,149 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 1,256 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Greenlight Capital Re by 12.8% in 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 buying an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets grew its position in Greenlight Capital Re by 4.9% in the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 1,429 shares during the last quarter. Bank of America Corp DE raised its stake in Greenlight Capital Re by 3.8% during the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 1,451 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Greenlight Capital Re by 90.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,627 shares during the last quarter. 41.52% of the stock is owned by institutional investors.

Greenlight Capital Re Company Profile

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.