Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Short Interest Down 20.5% in December

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the recipient of a large 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. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 231,069 shares, the short-interest ratio is currently 1.8 days. Based on an average daily volume of 231,069 shares, the short-interest ratio is currently 1.8 days. Approximately 1.6% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Insider Activity at Greenlight Capital Re

In related news, insider Thomas James Curnock sold 9,942 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.58, for a total transaction of $125,070.36. Following the completion of the sale, the insider owned 169,890 shares in the company, valued at approximately $2,137,216.20. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ursuline F. Foley bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of $12.92 per share, for a total transaction of $64,600.00. Following 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 position. The SEC filing for this purchase provides additional information. 23.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC increased its stake in Greenlight Capital Re by 27.8% during the second quarter. CWA Asset Management Group LLC now owns 865,797 shares of the financial services provider’s stock worth $12,442,000 after acquiring an additional 188,231 shares during the last quarter. Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re by 2.5% in the 2nd quarter. Private Management Group Inc. now owns 1,059,726 shares of the financial services provider’s stock valued at $15,228,000 after purchasing an additional 25,361 shares during the last quarter. Mraz Amerine & Associates Inc. purchased a new position in shares of Greenlight Capital Re in the 2nd quarter worth approximately $308,000. Creative Planning purchased a new position in shares of Greenlight Capital Re in the 2nd quarter worth approximately $887,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Greenlight Capital Re by 34.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,155 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 18,910 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Stock Performance

NASDAQ GLRE opened at $13.30 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.89. Greenlight Capital Re has a 1-year low of $11.56 and a 1-year high of $15.06. The business has a 50 day simple moving average of $13.77 and a two-hundred day simple moving average of $13.17. The stock has a market capitalization of $453.52 million, a PE ratio of -190.00 and a beta of 0.54.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings data on Monday, November 3rd. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.23). The firm had revenue of $146.07 million for the quarter. Greenlight Capital Re had a negative return on equity of 0.28% and a negative net margin of 0.28%.

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.