Wittenberg Investment Management Inc. Cuts Stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Wittenberg Investment Management Inc. reduced its position in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 20.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,500 shares of the financial services provider’s stock after selling 10,000 shares during the period. Wittenberg Investment Management Inc.’s holdings in Greenlight Capital Re were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLRE. Private Management Group Inc. boosted its stake in shares of Greenlight Capital Re by 17.3% during the 4th quarter. Private Management Group Inc. now owns 930,479 shares of the financial services provider’s stock valued at $13,027,000 after buying an additional 136,935 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Greenlight Capital Re in the 3rd quarter valued at about $1,188,000. American Century Companies Inc. grew its holdings in shares of Greenlight Capital Re by 13.6% during the fourth quarter. American Century Companies Inc. now owns 469,760 shares of the financial services provider’s stock valued at $6,577,000 after purchasing an additional 56,281 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Greenlight Capital Re by 99.8% during the 4th quarter. JPMorgan Chase & Co. now owns 97,210 shares of the financial services provider’s stock worth $1,361,000 after buying an additional 48,564 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Greenlight Capital Re by 188.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 68,104 shares of the financial services provider’s stock worth $953,000 after acquiring an additional 44,514 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Stock Down 2.8 %

Shares of GLRE stock opened at $13.32 on Friday. The business’s fifty day moving average is $13.54 and its 200-day moving average is $13.91. Greenlight Capital Re, Ltd. has a 1 year low of $11.93 and a 1 year high of $15.82. The stock has a market cap of $460.39 million, a PE ratio of 5.29 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Greenlight Capital Re

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

Greenlight Capital Re 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.