Short Interest in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Decreases By 20.6%
by Renee Jackson · The Cerbat GemGreenlight Capital Re, Ltd. (NASDAQ:GLRE – Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 355,524 shares, a drop of 20.6% from the March 31st total of 447,670 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily trading volume, of 236,416 shares, the short-interest ratio is currently 1.5 days.
Greenlight Capital Re Stock Down 3.3%
GLRE stock traded down $0.60 during trading on Friday, reaching $17.72. 229,135 shares of the company traded hands, compared to its average volume of 193,843. Greenlight Capital Re has a 12 month low of $11.56 and a 12 month high of $19.39. The business has a 50 day simple moving average of $16.70 and a 200 day simple moving average of $14.60. The company has a market capitalization of $602.20 million, a price-to-earnings ratio of 8.13 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.84 and a current ratio of 2.84.
Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last issued its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.The company had revenue of $210.30 million for the quarter.
Institutional Investors Weigh In On Greenlight Capital Re
Several institutional investors have recently added to or reduced their stakes in GLRE. AQR Capital Management LLC boosted its holdings in Greenlight Capital Re by 61.1% in the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 17,029 shares in the last quarter. Empowered Funds LLC boosted its holdings in Greenlight Capital Re by 8.3% in the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock worth $1,596,000 after acquiring an additional 9,066 shares in the last quarter. Jane Street Group LLC acquired a new stake in Greenlight Capital Re in the first quarter worth about $335,000. First Trust Advisors LP boosted its holdings in Greenlight Capital Re by 3.2% in the second quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock worth $1,172,000 after acquiring an additional 2,553 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Greenlight Capital Re by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after acquiring an additional 2,180 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently commented on GLRE. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen raised Greenlight Capital Re from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.
View Our Latest Stock Report on Greenlight Capital Re
Greenlight Capital Re Company 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.