Greenlight Capital Re (NASDAQ:GLRE) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.17 and traded as high as $14.19. Greenlight Capital Re shares last traded at $14.01, with a volume of 84,497 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Greenlight Capital Re in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Greenlight Capital Re Stock Down 0.2%

The company has a 50 day moving average of $13.93 and a 200-day moving average of $13.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.89. The company has a market cap of $477.74 million, a P/E ratio of -200.14 and a beta of 0.54.

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

Insider Activity

In other news, Director Joseph P. Platt, Jr. purchased 5,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of $12.97 per share, with a total value of $64,850.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $64,850. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas James Curnock sold 9,942 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $12.58, for a total value of $125,070.36. Following the completion of the transaction, the insider owned 169,890 shares of the company’s stock, valued at $2,137,216.20. The trade was a 5.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 23.55% of the company’s stock.

Institutional Trading of Greenlight Capital Re

Several hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Greenlight Capital Re by 61.1% during the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 17,029 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Greenlight Capital Re by 8.3% during the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after purchasing an additional 9,066 shares during the last quarter. Jane Street Group LLC purchased a new position in Greenlight Capital Re in the 1st quarter worth $335,000. Mraz Amerine & Associates Inc. bought a new stake in Greenlight Capital Re in the second quarter worth $308,000. Finally, CWM LLC lifted its stake in shares of Greenlight Capital Re by 25.7% in the 2nd quarter. CWM LLC now owns 6,149 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

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.