Greenlight Capital Re (NASDAQ:GLRE) Reaches New 12-Month High – Here’s What Happened

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $17.50 and last traded at $17.49, with a volume of 339347 shares. The stock had previously closed at $17.29.

Analysts Set New Price Targets

Several equities analysts recently commented on GLRE shares. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Greenlight Capital Re from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Greenlight Capital Re Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. The company has a fifty day moving average price of $14.90 and a two-hundred day moving average price of $13.80. The firm has a market cap of $606.54 million, a price-to-earnings ratio of 8.19 and a beta of 0.39.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Monday, March 9th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.32. The business had revenue of $210.30 million for the quarter. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.

Institutional Trading of Greenlight Capital Re

Institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position 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 buying an additional 3,174 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,627 shares during the period. Russell Investments Group Ltd. boosted its stake in Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,749 shares during the last quarter. Financial Consulate Inc. bought a new position in shares of Greenlight Capital Re during the third quarter worth $124,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,296 shares during the period. 41.52% of the stock is currently owned by institutional investors and hedge funds.

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.