Greenlight Capital Re (NASDAQ:GLRE) Stock Breaks Above 50 Day Moving Average – What’s Next?

Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $15.00 and traded as high as $15.18. Greenlight Capital Re shares last traded at $15.09, with a volume of 136,289 shares changing hands.

Analyst Ratings Changes

GLRE has been the topic of a number of recent analyst reports. Weiss Ratings cut Greenlight Capital Re from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Wall Street Zen raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Greenlight Capital Re Price Performance

The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $15.00 and its two-hundred day moving average is $15.80. The stock has a market cap of $492.54 million, a price-to-earnings ratio of 10.27 and a beta of 0.27.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Monday, November 2nd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.35. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. The company had revenue of $148.29 million for the quarter, compared to analyst estimates of $167.94 million. As a group, research analysts predict that Greenlight Capital Re, Ltd. will post 0.50 earnings per share for the current year.

Insider Activity

In related news, insider Sherry Diaz sold 13,500 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.08, for a total transaction of $203,580.00. Following the transaction, the insider owned 86,879 shares of the company’s stock, valued at approximately $1,310,135.32. This represents a 13.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian Isaacs sold 5,150 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $14.90, for a total value of $76,735.00. Following the transaction, the director directly owned 37,992 shares in the company, valued at approximately $566,080.80. The trade was a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 38,500 shares of company stock valued at $580,305. 24.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors have recently bought and sold shares of GLRE. Bfsg LLC increased its stake in Greenlight Capital Re by 11.0% during the third quarter. Bfsg LLC now owns 13,120 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,300 shares during the period. Vise Technologies Inc. acquired a new stake in shares of Greenlight Capital Re during the third quarter worth about $157,000. Engineers Gate Manager LP boosted its stake in shares of Greenlight Capital Re by 9.1% in the second quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,705 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Greenlight Capital Re by 10.9% in the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 6,178 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of 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 purchasing an additional 11,416 shares during the period. 41.52% of the stock is owned by institutional investors and hedge funds.

About Greenlight Capital Re

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.