Greenlight Capital Re (NASDAQ:GLRE) Stock Price Up 5.3% – Here’s What Happened

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price rose 5.3% during mid-day trading on Friday . The stock traded as high as $15.90 and last traded at $15.78. Approximately 154,771 shares traded hands during trading, an increase of 31% from the average daily volume of 118,498 shares. The stock had previously closed at $14.99.

Analyst Ratings Changes

A number of brokerages recently commented on GLRE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Greenlight Capital Re in a research note on Monday, December 29th. Wall Street Zen upgraded Greenlight Capital Re from a “hold” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Greenlight Capital Re Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.89. The company’s 50 day simple moving average is $14.02 and its 200 day simple moving average is $13.41. The company has a market capitalization of $531.96 million, a PE ratio of 7.16 and a beta of 0.54.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.32. Greenlight Capital Re had a net margin of 10.25% and a return on equity of 11.10%. The business had revenue of $210.30 million during the quarter.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently bought and sold shares of GLRE. Quadrant Capital Group LLC grew its holdings in shares of Greenlight Capital Re by 7,213.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,749 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of Greenlight Capital Re in the 3rd quarter valued at about $124,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,296 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

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.