Greenlight Capital Re (NASDAQ:GLRE) Shares Cross Above 200-Day Moving Average – Time to Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $13.21 and traded as high as $13.86. Greenlight Capital Re shares last traded at $13.83, with a volume of 120,088 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Greenlight Capital Re in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Greenlight Capital Re Stock Performance

The firm’s 50 day moving average is $12.76 and its two-hundred day moving average is $13.21. The stock has a market capitalization of $471.60 million, a PE ratio of -197.57 and a beta of 0.53. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.89 and a current ratio of 2.89.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, November 3rd. The financial services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.23). The business had revenue of $146.07 million during the quarter. Greenlight Capital Re had a negative net margin of 0.28% and a negative return on equity of 0.28%.

Insider Buying and Selling

In other news, Director Ian Isaacs sold 8,393 shares of Greenlight Capital Re stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $12.79, for a total value of $107,346.47. Following the completion of the transaction, the director owned 71,137 shares in the company, valued at approximately $909,842.23. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas James Curnock sold 9,942 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $12.58, for a total transaction of $125,070.36. Following the sale, the insider owned 169,890 shares in the company, valued at $2,137,216.20. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 23.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLRE. Catawba River Capital acquired a new position in Greenlight Capital Re during the 3rd quarter worth approximately $2,542,000. CWA Asset Management Group LLC lifted its position in shares of Greenlight Capital Re by 27.8% during the 2nd quarter. CWA Asset Management Group LLC now owns 865,797 shares of the financial services provider’s stock worth $12,442,000 after purchasing an additional 188,231 shares during the last quarter. Invesco Ltd. grew its stake in shares of Greenlight Capital Re by 284.9% during the first quarter. Invesco Ltd. now owns 233,227 shares of the financial services provider’s stock worth $3,160,000 after purchasing an additional 172,639 shares in the last quarter. Private Management Group Inc. increased its holdings in Greenlight Capital Re by 12.8% in the third quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after buying an additional 136,041 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Greenlight Capital Re in the first quarter valued at $1,142,000. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Company Profile

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.