Greenlight Capital Re (NASDAQ:GLRE) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $13.24 and traded as high as $14.75. Greenlight Capital Re shares last traded at $14.6350, with a volume of 71,616 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Greenlight Capital Re in a research report on Monday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Greenlight Capital Re has a consensus rating of “Hold”.

Greenlight Capital Re Price Performance

The firm has a market capitalization of $499.05 million, a price-to-earnings ratio of -209.07 and a beta of 0.53. The company’s 50 day moving average is $13.21 and its 200 day moving average is $13.24. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Monday, November 3rd. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.23). Greenlight Capital Re had a negative net margin of 0.28% and a negative return on equity of 0.28%. The business had revenue of $146.07 million during the quarter.

Insider Activity at Greenlight Capital Re

In related news, Director Joseph P. Platt, Jr. purchased 5,000 shares of Greenlight Capital Re stock in a transaction that occurred on Tuesday, November 18th. The shares were acquired at an average price of $12.97 per share, with a total value of $64,850.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $64,850. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas James Curnock sold 9,942 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $12.58, for a total value of $125,070.36. Following the transaction, the insider owned 169,890 shares in the company, valued at approximately $2,137,216.20. This trade represents a 5.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 23.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Greenlight Capital Re

A number of large investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,627 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,749 shares in the last quarter. CWM LLC increased its stake in Greenlight Capital Re by 25.7% in the second quarter. CWM LLC now owns 6,149 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 1,256 shares during the last quarter. Financial Consulate Inc. acquired a new position in Greenlight Capital Re during the third quarter valued at approximately $124,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,296 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.

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.