Short Interest in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Decreases By 20.6%

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a significant decline in short interest in 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. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 236,416 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GLRE. Wall Street Zen raised shares of Greenlight Capital Re from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. Weiss Ratings upgraded shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC raised its holdings in shares of Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 3,174 shares during the period. Tower Research Capital LLC TRC increased its position in Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. increased its position in Greenlight Capital Re by 184.6% during the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,749 shares during the last quarter. Financial Consulate Inc. bought a new stake in Greenlight Capital Re in the third quarter valued at approximately $124,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Greenlight Capital Re by 12.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after buying an additional 1,296 shares during the period. Institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Stock Down 3.3%

Shares of NASDAQ:GLRE traded down $0.60 during trading on Friday, hitting $17.72. 229,135 shares of the company were exchanged, compared to its average volume of 193,843. Greenlight Capital Re has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The stock has a market cap of $602.13 million, a price-to-earnings ratio of 8.13 and a beta of 0.38. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average price of $16.70 and a two-hundred day moving average price of $14.60.

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

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.