Greenlight Capital Re (NASDAQ:GLRE) Announces Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Greenlight Capital Re (NASDAQ:GLRE) announced its quarterly earnings results on Monday. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32, FiscalAI reports. Greenlight Capital Re had a net margin of 10.25% and a return on equity of 11.29%. The firm had revenue of $210.30 million for the quarter.

Greenlight Capital Re Price Performance

Shares of GLRE stock opened at $14.96 on Wednesday. The firm has a fifty day simple moving average of $13.97 and a 200-day simple moving average of $13.36. The company has a market capitalization of $510.14 million, a PE ratio of 6.86 and a beta of 0.54. Greenlight Capital Re has a twelve month low of $11.56 and a twelve month high of $15.12. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Empowered Funds LLC grew its stake in Greenlight Capital Re by 11.0% during the 4th quarter. Empowered Funds LLC now owns 162,184 shares of the financial services provider’s stock valued at $2,365,000 after purchasing an additional 16,062 shares in the last quarter. Oxford Asset Management LLP bought a new stake in shares of Greenlight Capital Re in the fourth quarter worth $177,000. Millennium Management LLC raised its holdings in Greenlight Capital Re by 546.5% in the fourth quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock valued at $2,906,000 after acquiring an additional 168,486 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Greenlight Capital Re by 8.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 210,684 shares of the financial services provider’s stock valued at $3,072,000 after acquiring an additional 16,062 shares in the last quarter. Finally, Trexquant Investment LP boosted its stake in Greenlight Capital Re by 70.2% during the 4th quarter. Trexquant Investment LP now owns 104,212 shares of the financial services provider’s stock valued at $1,519,000 after acquiring an additional 42,972 shares during the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

Analyst Ratings Changes

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

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.