Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Large Growth in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLREGet Rating) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 846,700 shares, a growth of 21.1% from the April 15th total of 699,100 shares. Based on an average daily trading volume, of 148,200 shares, the days-to-cover ratio is currently 5.7 days. Currently, 3.4% of the company’s shares are short sold.

A number of institutional investors and hedge funds have recently made changes to their positions in GLRE. Wells Fargo & Company MN grew its holdings in Greenlight Capital Re by 427.4% in the second quarter. Wells Fargo & Company MN now owns 166,193 shares of the financial services provider’s stock worth $1,517,000 after purchasing an additional 134,683 shares during the period. SG Americas Securities LLC purchased a new stake in Greenlight Capital Re in the third quarter worth about $137,000. Barclays PLC grew its holdings in Greenlight Capital Re by 16.8% in the third quarter. Barclays PLC now owns 48,081 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 6,932 shares during the period. Trexquant Investment LP purchased a new stake in Greenlight Capital Re in the third quarter worth about $90,000. Finally, Invesco Ltd. grew its holdings in Greenlight Capital Re by 5.0% in the third quarter. Invesco Ltd. now owns 82,707 shares of the financial services provider’s stock worth $611,000 after purchasing an additional 3,974 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Shares of NASDAQ GLRE traded down $0.09 during midday trading on Wednesday, hitting $7.40. 532 shares of the company traded hands, compared to its average volume of 237,467. Greenlight Capital Re has a 12-month low of $6.51 and a 12-month high of $9.60. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.41 and a current ratio of 3.41. The stock has a 50-day moving average price of $7.05 and a 200 day moving average price of $7.22. The firm has a market cap of $250.42 million, a P/E ratio of 53.50 and a beta of 1.23.

Greenlight Capital Re (NASDAQ:GLREGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The financial services provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.42). Greenlight Capital Re had a net margin of 0.94% and a return on equity of 1.15%.

Separately, StockNews.com cut shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Thursday, April 7th.

About Greenlight Capital Re (Get Rating)

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, energy, aviation, crop, cyber, political, and terrorism products.

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