Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Large Decline in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 141,300 shares, a decline of 19.5% from the March 15th total of 175,500 shares. Based on an average daily volume of 96,500 shares, the short-interest ratio is currently 1.5 days. Currently, 0.5% of the company’s stock are short sold.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, insider Brian Joseph Oreilly sold 8,000 shares of the firm’s stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $14.00, for a total value of $112,000.00. Following the completion of the transaction, the insider now owns 99,330 shares of the company’s stock, valued at approximately $1,390,620. This trade represents a 7.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.79% of the stock is currently owned by corporate insiders.

Institutional Trading of Greenlight Capital Re

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Greenlight Capital Re by 288.2% during the third quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 36,116 shares in the last quarter. Barclays PLC increased its position in Greenlight Capital Re by 275.5% in the 3rd quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 26,468 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Greenlight Capital Re in the fourth quarter valued at approximately $367,000. Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re during the third quarter worth approximately $1,188,000. Finally, Rhumbline Advisers boosted its stake in Greenlight Capital Re by 12.5% during the fourth quarter. Rhumbline Advisers now owns 47,675 shares of the financial services provider’s stock valued at $667,000 after buying an additional 5,304 shares in the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Trading Up 2.0 %

Shares of GLRE stock traded up $0.27 on Tuesday, hitting $13.57. The stock had a trading volume of 10,676 shares, compared to its average volume of 88,985. Greenlight Capital Re has a 1 year low of $11.93 and a 1 year high of $15.82. The firm has a market capitalization of $469.10 million, a P/E ratio of 5.39 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02. The company’s 50 day moving average price is $13.41 and its 200-day moving average price is $13.84.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.40). Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The business had revenue of $143.76 million for the quarter.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.