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

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.24 and traded as high as $14.16. Greenlight Capital Re shares last traded at $13.97, with a volume of 131,599 shares changing hands.

Wall Street Analysts Forecast Growth

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

Greenlight Capital Re Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.89. The company’s 50 day simple moving average is $14.03 and its 200 day simple moving average is $13.25. The company has a market capitalization of $482.50 million, a PE ratio of -202.14 and a beta of 0.54.

Institutional Investors Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently bought and sold shares of the stock. Private Management Group Inc. lifted its stake in Greenlight Capital Re by 25.6% in the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after buying an additional 306,468 shares during the last quarter. Catawba River Capital acquired a new position in shares of Greenlight Capital Re in the 3rd quarter valued at $2,542,000. Pinnacle Associates Ltd. purchased a new stake in Greenlight Capital Re in the 4th quarter valued at $2,480,000. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Greenlight Capital Re in the 4th quarter valued at $2,479,000. Finally, Millennium Management LLC boosted its stake in Greenlight Capital Re by 546.5% during the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock worth $2,906,000 after purchasing an additional 168,486 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

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.