Hsbc Holdings PLC Invests $813,000 in Greenlight Capital Re, Ltd. $GLRE

Hsbc Holdings PLC bought a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 47,283 shares of the financial services provider’s stock, valued at approximately $813,000. Hsbc Holdings PLC owned about 0.14% of Greenlight Capital Re as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Private Management Group Inc. grew its stake in Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after buying an additional 306,468 shares during the last quarter. Vanguard Group Inc. lifted its stake in Greenlight Capital Re by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after buying an additional 49,929 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Greenlight Capital Re by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after buying an additional 2,180 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Greenlight Capital Re by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after acquiring an additional 13,430 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Greenlight Capital Re by 73.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 229,630 shares of the financial services provider’s stock valued at $3,348,000 after acquiring an additional 96,983 shares during the period. 41.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wall Street Zen cut shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Greenlight Capital Re in a research note on Monday, July 6th. Finally, Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Greenlight Capital Re currently has an average rating of “Moderate Buy”.

Insider Buying and Selling

In other Greenlight Capital Re news, Director Joseph P. Platt, Jr. sold 11,747 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total transaction of $198,171.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick O’brien sold 3,026 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $16.36, for a total transaction of $49,505.36. Following the completion of the sale, the chief operating officer owned 208,633 shares of the company’s stock, valued at $3,413,235.88. This trade represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 85,472 shares of company stock valued at $1,472,107 in the last ninety days. Company insiders own 24.67% of the company’s stock.

Greenlight Capital Re Stock Down 1.4%

GLRE opened at $17.44 on Thursday. The business has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $16.04. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The company has a market cap of $578.48 million, a PE ratio of 7.36 and a beta of 0.32. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). The company had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. As a group, research analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

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.