Greenlight Capital Re (NASDAQ:GLRE) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.86 and traded as high as $17.18. Greenlight Capital Re shares last traded at $16.27, with a volume of 108,044 shares traded.

Analyst Ratings Changes

GLRE has been the subject of several recent research reports. Zacks Research upgraded shares of Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “buy (b)” rating on shares of Greenlight Capital Re in a research note on Monday, July 6th. Finally, Wall Street Zen downgraded shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Greenlight Capital Re Stock Performance

The business has a 50 day moving average of $16.46 and a 200-day moving average of $15.87. The company has a market capitalization of $566.21 million, a P/E ratio of 7.20 and a beta of 0.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20). The company had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%. On average, sell-side analysts predict that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel David Sigmon sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $17.33, for a total transaction of $129,975.00. Following the completion of the transaction, the general counsel owned 32,678 shares of the company’s stock, valued at approximately $566,309.74. The trade was a 18.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ian Isaacs sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00. Following the sale, the director directly owned 51,191 shares in the company, valued at $822,127.46. This trade represents a 7.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 85,472 shares of company stock valued at $1,472,107. Corporate insiders own 24.67% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLRE. AQR Capital Management LLC increased its holdings in shares of Greenlight Capital Re by 61.1% in the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 17,029 shares during the period. Empowered Funds LLC boosted its stake in Greenlight Capital Re by 8.3% during the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after buying an additional 9,066 shares during the period. Jane Street Group LLC bought a new stake in Greenlight Capital Re during the first quarter valued at $335,000. First Trust Advisors LP grew its position in Greenlight Capital Re by 3.2% during the second quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock worth $1,172,000 after buying an additional 2,553 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Greenlight Capital Re by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after buying an additional 2,180 shares in the last quarter. 41.52% of the stock is owned by 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.