Geode Capital Management LLC raised its position in Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 238,388 shares of the financial services provider’s stock after buying an additional 10,513 shares during the period. Geode Capital Management LLC’s holdings in Greenlight Reinsurance were worth $5,268,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in GLRE. Karp Capital Management Corp acquired a new stake in Greenlight Reinsurance during the first quarter worth $213,000. UBS Asset Management Americas Inc. purchased a new stake in Greenlight Reinsurance during the first quarter valued at approximately $236,000. Advisory Services Network LLC purchased a new stake in Greenlight Reinsurance during the first quarter valued at approximately $237,000. Russell Investments Group Ltd. purchased a new stake in Greenlight Reinsurance during the first quarter valued at approximately $239,000. Finally, Parametric Portfolio Associates LLC raised its stake in Greenlight Reinsurance by 5.4% in the first quarter. Parametric Portfolio Associates LLC now owns 13,764 shares of the financial services provider’s stock valued at $304,000 after buying an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 47.75% of the company’s stock.

Greenlight Reinsurance, Ltd. (NASDAQ GLRE) traded down 0.44% during mid-day trading on Friday, reaching $22.80. 184,909 shares of the company traded hands. The stock’s 50 day moving average price is $21.46 and its 200 day moving average price is $21.56. The firm has a market capitalization of $851.37 million, a price-to-earnings ratio of 16.34 and a beta of 0.77. Greenlight Reinsurance, Ltd. has a 52 week low of $19.25 and a 52 week high of $24.10.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, July 31st. The financial services provider reported ($0.96) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.04. The business had revenue of $121.48 million for the quarter, compared to analyst estimates of $139.90 million. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. Equities analysts forecast that Greenlight Reinsurance, Ltd. will post $0.80 EPS for the current year.

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GLRE has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Greenlight Reinsurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 19th. TheStreet lowered shares of Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th. ValuEngine lowered shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, BidaskClub lowered shares of Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.

In other news, insider Sherry Diaz sold 3,055 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $23.00, for a total transaction of $70,265.00. Following the transaction, the insider now directly owns 33,500 shares in the company, valued at approximately $770,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Leonard R. Goldberg sold 1,659 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total transaction of $37,742.25. Following the transaction, the director now owns 170,021 shares in the company, valued at $3,867,977.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,312 shares of company stock worth $141,396. Insiders own 21.81% of the company’s stock.

About Greenlight Reinsurance

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.

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Institutional Ownership by Quarter for Greenlight Reinsurance (NASDAQ:GLRE)

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