Greenlight Capital Re (NASDAQ:GLRE) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.86 and traded as high as $17.18. Greenlight Capital Re shares last traded at $16.27, with a volume of 108,044 shares.

Wall Street Analyst Weigh In

Several research 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 reissued a “buy (b)” rating on shares of Greenlight Capital Re in a research report on Monday, July 6th. Finally, Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Greenlight Capital Re presently has an average rating of “Moderate Buy”.

Greenlight Capital Re Stock Performance

The company’s 50 day simple moving average is $16.48 and its 200 day simple moving average is $15.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The stock has a market cap of $539.68 million, a PE ratio of 6.86 and a beta of 0.32.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The business had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%. Analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.

Insiders Place Their Bets

In other Greenlight Capital Re news, Director Joseph P. Platt, Jr. sold 11,747 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total value of $198,171.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ian Isaacs sold 4,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $16.06, for a total value of $64,240.00. Following the completion of the transaction, the director owned 51,191 shares of the company’s stock, valued at $822,127.46. This trade represents a 7.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 85,472 shares of company stock valued at $1,472,107. 24.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Institutional investors have recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC increased its holdings in Greenlight Capital Re by 10.9% during the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock worth $1,019,000 after buying an additional 6,178 shares during the last quarter. Bank of America Corp DE grew its position in shares of Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after acquiring an additional 11,416 shares during the period. Empowered Funds LLC grew its position in shares of Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 15,845 shares during the period. Quantinno Capital Management LP increased its stake in shares of Greenlight Capital Re by 65.9% during the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 20,459 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Greenlight Capital Re during the 1st quarter worth approximately $1,343,000. Institutional investors own 41.52% of the company’s stock.

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.