Short Interest in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Decreases By 5.1%

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 169,900 shares, a drop of 5.1% from the October 15th total of 179,100 shares. Based on an average trading volume of 104,200 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Greenlight Capital Re from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Greenlight Capital Re Stock Performance

Greenlight Capital Re stock opened at $14.51 on Tuesday. The business has a 50 day moving average of $13.88 and a 200-day moving average of $13.36. The company has a market capitalization of $512.51 million, a P/E ratio of 5.76 and a beta of 0.85. Greenlight Capital Re has a 1 year low of $10.80 and a 1 year high of $15.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02.

Greenlight Capital Re (NASDAQ:GLRE) last released 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. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The firm had revenue of $188.01 million during the quarter. During the same period in the previous year, the business posted $0.39 EPS.

Insider Activity at Greenlight Capital Re

In related news, Director Ian Isaacs sold 7,159 shares of the firm’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 sale, the director now directly owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 22.79% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLRE. Ridgewood Investments LLC bought a new position in shares of Greenlight Capital Re during the second quarter worth about $37,000. CWM LLC raised its holdings in Greenlight Capital Re by 37.3% during the 2nd quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,005 shares during the last quarter. Bfsg LLC raised its holdings in Greenlight Capital Re by 25.8% during the 3rd quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 1,340 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Greenlight Capital Re in the 3rd quarter worth approximately $133,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Greenlight Capital Re in the 2nd quarter valued at $138,000. 41.52% of the stock is owned by institutional investors and hedge funds.

Greenlight Capital Re Company Profile

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.