Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Short Interest Update

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 169,900 shares, a decline of 5.1% from the October 15th total of 179,100 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 104,200 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Greenlight Capital Re from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Greenlight Capital Re Price Performance

NASDAQ GLRE opened at $14.65 on Wednesday. Greenlight Capital Re has a 1 year low of $10.80 and a 1 year high of $15.82. The company has a fifty day simple moving average of $13.90 and a 200 day simple moving average of $13.38. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09. The company has a market cap of $510.26 million, a P/E ratio of 5.81 and a beta of 0.85.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.36. The company had revenue of $188.01 million for the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same period in the prior year, the business posted $0.39 earnings per share.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $13.81, for a total value of $98,865.79. Following the completion of the sale, the director now owns 86,984 shares of the company’s stock, valued at $1,201,249.04. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.79% of the company’s stock.

Institutional Investors Weigh In On Greenlight Capital Re

Several hedge funds have recently made changes to their positions in GLRE. Dimensional Fund Advisors LP boosted its position in shares of Greenlight Capital Re by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock valued at $26,730,000 after acquiring an additional 48,317 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Greenlight Capital Re by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock valued at $16,753,000 after purchasing an additional 8,489 shares in the last quarter. Private Management Group Inc. lifted its position in Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after buying an additional 172,523 shares in the last quarter. State Street Corp raised its stake in shares of Greenlight Capital Re by 1.1% during the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock worth $7,861,000 after purchasing an additional 6,319 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in shares of Greenlight Capital Re during the 3rd quarter worth about $4,972,000. Institutional investors own 41.52% of the company’s stock.

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.