Greenlight Capital Re (NASDAQ:GLRE) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, Greenlight Capital Re currently has a consensus rating of “Hold”.

Greenlight Capital Re Stock Down 1.4%

The company has a market capitalization of $492.06 million, a P/E ratio of -206.14 and a beta of 0.53. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $13.25 and a 200-day simple moving average of $13.24.

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

Insider Transactions at Greenlight Capital Re

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its position in Greenlight Capital Re by 30.6% in the 3rd quarter. Bank of America Corp DE now owns 51,248 shares of the financial services provider’s stock valued at $651,000 after buying an additional 12,009 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Greenlight Capital Re by 25.7% in the third quarter. Two Sigma Investments LP now owns 127,379 shares of the financial services provider’s stock valued at $1,618,000 after purchasing an additional 26,041 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Greenlight Capital Re by 26.0% in the third quarter. Bridgeway Capital Management LLC now owns 194,622 shares of the financial services provider’s stock worth $2,472,000 after purchasing an additional 40,153 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Greenlight Capital Re during the third quarter worth $164,000. Finally, Private Management Group Inc. grew its position in Greenlight Capital Re by 12.8% in the third quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after purchasing an additional 136,041 shares in the last quarter. 41.52% of the stock is currently owned by institutional investors.

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.