Greenlight Capital Re, Ltd. $GLRE Shares Purchased by Private Management Group Inc.

Private Management Group Inc. lifted its position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 10.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,626,461 shares of the financial services provider’s stock after acquiring an additional 159,686 shares during the quarter. Private Management Group Inc.’s holdings in Greenlight Capital Re were worth $23,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in Greenlight Capital Re by 9.8% during the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 15,845 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Greenlight Capital Re by 64.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock valued at $2,210,000 after buying an additional 50,099 shares in the last quarter. Bank of America Corp DE increased its holdings in Greenlight Capital Re by 14.9% in the first quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after buying an additional 11,416 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Greenlight Capital Re in the first quarter worth about $1,343,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Greenlight Capital Re in the first quarter worth about $1,117,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Greenlight Capital Re

In other news, Director Ian Isaacs sold 5,150 shares of Greenlight Capital Re stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $14.90, for a total value of $76,735.00. Following the sale, the director directly owned 37,992 shares of the company’s stock, valued at $566,080.80. The trade was a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sherry Diaz sold 13,500 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $15.08, for a total value of $203,580.00. Following the sale, the insider owned 86,879 shares of the company’s stock, valued at $1,310,135.32. The trade was a 13.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 63,500 shares of company stock valued at $990,305 over the last 90 days. Corporate insiders own 24.67% of the company’s stock.

Greenlight Capital Re Trading Up 0.3%

Shares of GLRE stock opened at $16.13 on Tuesday. Greenlight Capital Re, Ltd. has a 1-year low of $12.59 and a 1-year high of $19.39. The company has a market cap of $526.48 million, a price-to-earnings ratio of 9.63 and a beta of 0.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 2.43. The stock has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $15.86.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Monday, November 2nd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.35. Greenlight Capital Re had a net margin of 8.56% and a return on equity of 8.26%. The business had revenue of $148.29 million for the quarter. On average, equities research analysts expect that Greenlight Capital Re, Ltd. will post 0.50 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GLRE shares. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Wall Street Zen raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Greenlight Capital Re has a consensus rating of “Moderate Buy”.

Greenlight Capital Re Profile

Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.