Private Management Group Inc. Buys 75,788 Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Private Management Group Inc. raised its stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 39.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 267,693 shares of the financial services provider’s stock after acquiring an additional 75,788 shares during the period. Private Management Group Inc.’s holdings in Greenlight Capital Re were worth $3,057,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLRE. SG Americas Securities LLC acquired a new position in shares of Greenlight Capital Re in the 3rd quarter valued at about $119,000. Acadian Asset Management LLC acquired a new position in Greenlight Capital Re during the 3rd quarter worth approximately $123,000. Allspring Global Investments Holdings LLC raised its stake in Greenlight Capital Re by 40.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,521 shares of the financial services provider’s stock worth $132,000 after buying an additional 3,315 shares during the period. Rathbones Group PLC acquired a new position in Greenlight Capital Re during the 3rd quarter worth approximately $144,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Greenlight Capital Re during the 3rd quarter worth approximately $232,000. 41.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a research note on Monday, January 29th.

Greenlight Capital Re Stock Performance

GLRE stock remained flat at $12.31 during trading on Wednesday. The company had a trading volume of 60,187 shares, compared to its average volume of 77,186. The business’s fifty day simple moving average is $12.17 and its 200 day simple moving average is $11.54. Greenlight Capital Re, Ltd. has a fifty-two week low of $9.48 and a fifty-two week high of $12.89. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $435.31 million, a price-to-earnings ratio of 5.14 and a beta of 0.82.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Tuesday, March 5th. The financial services provider reported $0.50 earnings per share for the quarter. Greenlight Capital Re had a return on equity of 15.48% and a net margin of 13.32%. The business had revenue of $143.01 million for the quarter.

Insider Transactions at Greenlight Capital Re

In other news, Director Ian Isaacs sold 9,019 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $12.00, for a total value of $108,228.00. Following the completion of the sale, the director now directly owns 87,591 shares of the company’s stock, valued at $1,051,092. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 27.10% of the company’s stock.

Greenlight Capital Re 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.