Punch & Associates Investment Management Inc. Has $1.38 Million Holdings in Greenlight Capital Re, Ltd. $GLRE

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in Greenlight Capital Re by 4.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 1,429 shares during the last quarter. Bank of America Corp DE lifted its holdings in Greenlight Capital Re by 3.8% during the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock worth $564,000 after buying an additional 1,451 shares during the period. Tower Research Capital LLC TRC grew its position in shares of 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 last quarter. PNC Financial Services Group Inc. grew its position 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 buying an additional 1,698 shares during the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of Greenlight Capital Re by 2.8% in the fourth quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock valued at $941,000 after buying an additional 1,751 shares during the period. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLRE. Wall Street Zen downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Greenlight Capital Re in a report on Monday, July 6th. Finally, Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Greenlight Capital Re Price Performance

GLRE stock opened at $16.99 on Friday. The firm has a market cap of $563.56 million, a price-to-earnings ratio of 7.17 and a beta of 0.32. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The company’s fifty day simple moving average is $16.36 and its 200 day simple moving average is $15.96.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $160.88 million. On average, analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Ian Isaacs sold 9,230 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $16.33, for a total transaction of $150,725.90. Following the sale, the director owned 60,191 shares in the company, valued at $982,919.03. This represents a 13.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Sigmon sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total value of $129,975.00. Following the sale, the general counsel directly owned 32,678 shares of the company’s stock, valued at $566,309.74. This represents a 18.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 85,472 shares of company stock valued at $1,472,107 over the last 90 days. 24.67% of the stock is owned by company insiders.

Greenlight Capital Re 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.