Hillsdale Investment Management Inc. Makes New $1.12 Million Investment in Greenlight Capital Re, Ltd. $GLRE

Hillsdale Investment Management Inc. purchased a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 64,598 shares of the financial services provider’s stock, valued at approximately $1,117,000. Hillsdale Investment Management Inc. owned approximately 0.19% of Greenlight Capital Re as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLRE. Quadrant Capital Group LLC raised its stake in shares of Greenlight Capital Re by 7,213.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 3,174 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 valued at $49,000 after acquiring an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Greenlight Capital Re by 184.6% in the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,749 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Greenlight Capital Re in the third quarter worth $164,000. Finally, Bfsg LLC grew its holdings in Greenlight Capital Re by 31.8% in the fourth quarter. Bfsg LLC now owns 11,940 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,880 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GLRE. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Greenlight Capital Re in a research report on Monday, July 6th. Finally, Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Insider Buying and Selling at Greenlight Capital Re

In other news, Director Joseph P. Platt, Jr. sold 11,747 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total value of $198,171.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Sigmon sold 7,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total transaction of $129,975.00. Following the transaction, the general counsel directly owned 32,678 shares of the company’s stock, valued at approximately $566,309.74. This trade represents a 18.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 85,472 shares of company stock valued at $1,472,107 over the last quarter. Insiders own 24.67% of the company’s stock.

Greenlight Capital Re Trading Up 3.3%

Shares of NASDAQ:GLRE opened at $16.80 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The stock has a market cap of $557.26 million, a price-to-earnings ratio of 7.09 and a beta of 0.32. The business has a 50-day moving average price of $16.46 and a 200-day moving average price of $15.87.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The firm had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. Equities analysts predict that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

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.