Punch & Associates Investment Management Inc. Sells 237,173 Shares of Greenlight Capital Re, Ltd. $GLRE

Punch & Associates Investment Management Inc. cut its holdings in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 74.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,827 shares of the financial services provider’s stock after selling 237,173 shares during the period. Punch & Associates Investment Management Inc. owned about 0.24% of Greenlight Capital Re worth $1,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,698 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of 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 worth $47,000 after buying an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Greenlight Capital Re by 184.6% in 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 in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Greenlight Capital Re in the third quarter valued at about $164,000. 41.52% of the stock is currently owned by institutional investors.

Insider Transactions at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 9,230 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $16.33, for a total value of $150,725.90. Following the completion of the transaction, the director directly owned 60,191 shares in the company, valued at approximately $982,919.03. This trade represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph P. Platt, Jr. sold 23,613 shares of Greenlight Capital Re stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total value of $425,270.13. Following the sale, the director directly owned 11,747 shares in the company, valued at $211,563.47. The trade was a 66.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 85,472 shares of company stock valued at $1,472,107 over the last three months. Company insiders own 24.67% of the company’s stock.

Greenlight Capital Re Stock Up 3.9%

Shares of NASDAQ:GLRE opened at $16.99 on Friday. The company has a fifty day moving average of $16.36 and a 200-day moving average of $15.96. The company has a market capitalization of $563.56 million, a PE ratio of 7.17 and a beta of 0.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. 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 released its quarterly earnings data 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 firm had revenue of $189.66 million for the quarter, compared to analyst estimates of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. On average, equities analysts predict that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLRE shares. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Greenlight Capital Re in a report on Monday, July 6th. Finally, Zacks Research upgraded shares of Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Greenlight Capital Re presently has a consensus rating of “Moderate Buy”.

Greenlight Capital Re Company Profile

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.