Greenlight Capital Re (NASDAQ:GLRE) Releases Earnings Results, Beats Expectations By $0.32 EPS

Greenlight Capital Re (NASDAQ:GLRE) posted its quarterly earnings data on Monday. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32, FiscalAI reports. The company had revenue of $210.30 million during the quarter. Greenlight Capital Re had a negative return on equity of 0.28% and a negative net margin of 0.28%.

Greenlight Capital Re Stock Up 0.4%

Shares of GLRE stock traded up $0.05 during mid-day trading on Monday, hitting $14.20. The stock had a trading volume of 145,364 shares, compared to its average volume of 117,117. Greenlight Capital Re has a 12-month low of $11.56 and a 12-month high of $15.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.89 and a quick ratio of 2.89. The firm’s 50-day moving average is $13.97 and its two-hundred day moving average is $13.34. The firm has a market capitalization of $484.22 million, a P/E ratio of -202.86 and a beta of 0.54.

Wall Street Analyst Weigh In

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

Institutional Trading of Greenlight Capital Re

A number of hedge funds have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its position in Greenlight Capital Re by 7,213.6% during 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 boosted its stake in shares of 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 valued at $49,000 after purchasing an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. increased its holdings 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 valued at $54,000 after buying an additional 2,749 shares during the period. Squarepoint Ops LLC bought a new position in Greenlight Capital Re in the third quarter worth approximately $164,000. Finally, Oxford Asset Management LLP purchased a new stake in Greenlight Capital Re during the fourth quarter worth $177,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

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.