Squarepoint Ops LLC Takes Position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Squarepoint Ops LLC acquired a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,314 shares of the financial services provider’s stock, valued at approximately $186,000.

A number of other hedge funds have also made changes to their positions in GLRE. Castalian Partners LLC purchased a new position in shares of Greenlight Capital Re in the 4th quarter valued at about $1,698,000. Millennium Management LLC acquired a new stake in shares of Greenlight Capital Re in the 4th quarter valued at about $1,341,000. Wells Fargo & Company MN boosted its position in shares of Greenlight Capital Re by 74.7% in the 4th quarter. Wells Fargo & Company MN now owns 180,581 shares of the financial services provider’s stock valued at $2,528,000 after purchasing an additional 77,195 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Greenlight Capital Re by 13.3% in the 4th quarter. Ameriprise Financial Inc. now owns 622,743 shares of the financial services provider’s stock valued at $8,718,000 after purchasing an additional 73,317 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of Greenlight Capital Re by 100.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 133,739 shares of the financial services provider’s stock valued at $1,872,000 after purchasing an additional 66,887 shares during the period. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a research report on Friday, May 9th.

Insiders Place Their Bets

In other Greenlight Capital Re news, insider Brian Joseph Oreilly sold 8,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $14.00, for a total transaction of $112,000.00. Following the completion of the sale, the insider now directly owns 99,330 shares of the company’s stock, valued at approximately $1,390,620. This trade represents a 7.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick O’brien sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $13.22, for a total value of $66,100.00. Following the sale, the chief operating officer now directly owns 170,425 shares of the company’s stock, valued at $2,253,018.50. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,500 shares of company stock valued at $279,200. 23.55% of the stock is owned by company insiders.

Greenlight Capital Re Stock Up 2.3%

Shares of NASDAQ GLRE opened at $14.40 on Monday. The stock has a market cap of $497.59 million, a PE ratio of 5.71 and a beta of 0.67. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. Greenlight Capital Re, Ltd. has a 52-week low of $11.95 and a 52-week high of $15.82. The business has a 50-day moving average price of $13.46 and a 200 day moving average price of $13.74.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.36. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The firm had revenue of $247.95 million during the quarter.

About Greenlight Capital Re

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, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.