Greenlight Capital Re (NASDAQ:GLRE) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.23 and traded as high as $14.77. Greenlight Capital Re shares last traded at $14.16, with a volume of 167,729 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Greenlight Capital Re in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Greenlight Capital Re Price Performance

The firm has a market capitalization of $482.86 million, a P/E ratio of -202.29 and a beta of 0.54. The business’s 50-day simple moving average is $13.47 and its 200 day simple moving average is $13.22. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, November 3rd. The financial services provider reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.23). Greenlight Capital Re had a negative return on equity of 0.28% and a negative net margin of 0.28%.The business had revenue of $146.07 million during the quarter.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, insider Thomas James Curnock sold 9,942 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $12.58, for a total transaction of $125,070.36. Following the completion of the sale, the insider directly owned 169,890 shares in the company, valued at $2,137,216.20. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Joseph P. Platt, Jr. acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average price of $12.97 per share, for a total transaction of $64,850.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $64,850. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 23.55% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in shares of Greenlight Capital Re by 61.1% during the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 17,029 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Greenlight Capital Re during the 1st quarter valued at $463,000. Empowered Funds LLC raised its holdings in Greenlight Capital Re by 8.3% during the 1st 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 last quarter. Jane Street Group LLC purchased a new stake in Greenlight Capital Re during the 1st quarter valued at $335,000. Finally, Wedge Capital Management L L P NC purchased a new stake in Greenlight Capital Re during the 2nd quarter valued at $964,000. 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.