Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Significant Decline in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 445,600 shares, a decline of 7.1% from the March 15th total of 479,900 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average trading volume of 80,900 shares, the days-to-cover ratio is currently 5.5 days.

Greenlight Capital Re Stock Performance

Greenlight Capital Re stock opened at $12.16 on Thursday. The business has a 50 day moving average of $12.11 and a 200-day moving average of $11.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.29 and a quick ratio of 3.29. Greenlight Capital Re has a 1 year low of $9.48 and a 1 year high of $12.89. The company has a market capitalization of $429.98 million, a P/E ratio of 5.11 and a beta of 0.82.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings results on Tuesday, March 5th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $143.01 million during the quarter. Greenlight Capital Re had a net margin of 13.32% and a return on equity of 15.48%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a report on Monday, January 29th.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 9,019 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $12.00, for a total value of $108,228.00. Following the sale, the director now directly owns 87,591 shares in the company, valued at approximately $1,051,092. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 27.10% of the company’s stock.

Institutional Trading of Greenlight Capital Re

A number of institutional investors and hedge funds have recently bought and sold shares of GLRE. Bank of New York Mellon Corp lifted its holdings in Greenlight Capital Re by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 111,678 shares of the financial services provider’s stock worth $789,000 after buying an additional 5,789 shares during the period. Vanguard Group Inc. lifted its stake in shares of Greenlight Capital Re by 4.9% in the first quarter. Vanguard Group Inc. now owns 1,218,436 shares of the financial services provider’s stock worth $8,614,000 after acquiring an additional 56,956 shares during the period. Renaissance Technologies LLC bought a new stake in Greenlight Capital Re in the first quarter valued at approximately $601,000. Engineers Gate Manager LP boosted its holdings in Greenlight Capital Re by 157.8% in the first quarter. Engineers Gate Manager LP now owns 52,515 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 32,142 shares during the last quarter. Finally, PDT Partners LLC increased its position in Greenlight Capital Re by 50.7% during the 1st quarter. PDT Partners LLC now owns 18,751 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 6,312 shares during the period. 41.52% of the stock is currently owned by institutional investors and hedge funds.

About Greenlight Capital Re

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.