Renaissance Technologies LLC Takes Position in Greenlight Capital Re, Ltd. $GLRE

Renaissance Technologies LLC purchased a new position in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 77,650 shares of the financial services provider’s stock, valued at approximately $1,343,000. Renaissance Technologies LLC owned about 0.23% of Greenlight Capital Re as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of GLRE. Arrowstreet Capital Limited Partnership lifted its position in Greenlight Capital Re by 64.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 50,099 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Greenlight Capital Re in the first quarter valued at approximately $369,000. PNC Financial Services Group Inc. increased its stake in shares of Greenlight Capital Re by 3,773.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,698 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Greenlight Capital Re during the first quarter valued at approximately $1,117,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Greenlight Capital Re during the first quarter valued at approximately $813,000. Institutional investors and hedge funds own 41.52% of the company’s stock.

Wall Street Analyst Weigh In

GLRE has been the subject of several analyst reports. Zacks Research raised Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Insider Transactions at Greenlight Capital Re

In other news, Director Joseph P. Platt, Jr. sold 11,747 shares of Greenlight Capital Re stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total transaction of $198,171.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leonard R. Goldberg purchased 6,000 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average price of $15.42 per share, for a total transaction of $92,520.00. Following the completion of the transaction, the director owned 36,000 shares in the company, valued at $555,120. This trade represents a 20.00% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 58,332 shares of company stock worth $998,432 in the last three months. 24.67% of the stock is currently owned by company insiders.

Greenlight Capital Re Stock Up 1.6%

Greenlight Capital Re stock opened at $15.70 on Friday. 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 $520.77 million, a price-to-earnings ratio of 10.68 and a beta of 0.33. The company’s 50-day moving average price is $16.30 and its two-hundred day moving average price is $16.23. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). The company had revenue of $137.46 million during the quarter, compared to analyst estimates of $165.31 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. On average, analysts expect that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Greenlight Capital Re 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.