Greenlight Capital Re (NASDAQ:GLRE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.77 and traded as high as $16.77. Greenlight Capital Re shares last traded at $16.42, with a volume of 216,981 shares traded.

Analyst Ratings Changes

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

Greenlight Capital Re Stock Performance

The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $543.32 million, a price-to-earnings ratio of 6.91 and a beta of 0.32. The stock’s 50-day simple moving average is $16.60 and its 200 day simple moving average is $15.80.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.The firm had revenue of $189.66 million for the quarter, compared to analyst estimates of $160.88 million. Analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 4,000 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00. Following the sale, the director owned 51,191 shares in the company, valued at approximately $822,127.46. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph P. Platt, Jr. sold 11,747 shares of the firm’s 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 85,472 shares of company stock valued at $1,472,107. Company insiders own 24.67% of the company’s stock.

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Greenlight Capital Re by 4.9% in the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after acquiring an additional 1,429 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Greenlight Capital Re by 3.8% during the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 purchasing an additional 1,627 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings 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 in the last quarter. Finally, Independent Advisor Alliance raised its position in Greenlight Capital Re by 2.8% in the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock worth $941,000 after purchasing an additional 1,751 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

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.