Greenlight Capital Re (NASDAQ:GLRE) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.96 and traded as high as $17.05. Greenlight Capital Re shares last traded at $16.99, with a volume of 134,892 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Zacks Research raised Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Greenlight Capital Re in a research report on Monday, July 6th. Finally, Wall Street Zen lowered shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Greenlight Capital Re presently has an average rating of “Moderate Buy”.

Greenlight Capital Re Trading Up 3.9%

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 business has a 50-day simple moving average of $16.36 and a 200-day simple moving average of $15.96. The company has a market cap of $563.56 million, a PE ratio of 7.17 and a beta of 0.32.

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

Insider Buying and Selling at Greenlight Capital Re

In other news, COO Patrick O’brien sold 3,026 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total transaction of $49,505.36. Following the sale, the chief operating officer owned 208,633 shares of the company’s stock, valued at approximately $3,413,235.88. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 11,747 shares of Greenlight Capital Re stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total transaction of $198,171.89. The disclosure for this sale is available in the SEC filing. Insiders have sold 85,472 shares of company stock valued at $1,472,107 over the last three months. 24.67% of the stock is currently owned by company insiders.

Institutional Trading of Greenlight Capital Re

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

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.