Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Large Decline in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 355,524 shares, a decline of 20.6% from the March 31st total of 447,670 shares. Based on an average daily volume of 236,416 shares, the short-interest ratio is presently 1.5 days. Approximately 1.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages have issued reports on GLRE. Wall Street Zen raised Greenlight Capital Re from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Greenlight Capital Re Trading Up 0.8%

Shares of NASDAQ GLRE traded up $0.14 during midday trading on Thursday, reaching $18.32. The company had a trading volume of 197,049 shares, compared to its average volume of 202,027. Greenlight Capital Re has a one year low of $11.56 and a one year high of $19.39. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $16.70 and its 200-day moving average price is $14.60. The stock has a market cap of $622.51 million, a PE ratio of 8.40 and a beta of 0.39.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.The company had revenue of $210.30 million during the quarter.

Institutional Investors Weigh In On Greenlight Capital Re

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after acquiring an additional 136,041 shares during the last quarter. Catawba River Capital purchased a new position in shares of Greenlight Capital Re during the 3rd quarter worth approximately $2,542,000. CWA Asset Management Group LLC grew its holdings in shares of Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after acquiring an additional 62,707 shares during the period. Stifel Financial Corp grew its holdings in shares of Greenlight Capital Re by 6.1% during the 4th quarter. Stifel Financial Corp now owns 52,913 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 3,028 shares during the period. Finally, Barclays PLC grew its holdings in shares of Greenlight Capital Re by 14.4% during the 4th quarter. Barclays PLC now owns 43,458 shares of the financial services provider’s stock worth $634,000 after acquiring an additional 5,486 shares during the period. 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.