Greenlight Capital Re (NASDAQ:GLRE) Share Price Passes Above 200-Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.67 and traded as high as $13.79. Greenlight Capital Re shares last traded at $13.79, with a volume of 33,214 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Greenlight Capital Re from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Check Out Our Latest Stock Analysis on Greenlight Capital Re

Greenlight Capital Re Stock Up 0.7 %

The stock has a 50 day moving average of $14.36 and a 200 day moving average of $13.67. The firm has a market capitalization of $483.82 million, a price-to-earnings ratio of 5.51 and a beta of 0.88. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.36. The business had revenue of $188.01 million for the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same period in the prior year, the company posted $0.39 earnings per share.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLRE. CWA Asset Management Group LLC bought a new position in shares of Greenlight Capital Re during the third quarter valued at approximately $4,972,000. Empowered Funds LLC boosted its position in Greenlight Capital Re by 232.8% during the 3rd quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock valued at $913,000 after purchasing an additional 46,764 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Greenlight Capital Re during the 3rd quarter worth $1,188,000. Private Management Group Inc. increased its position in Greenlight Capital Re by 27.8% in the third quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after buying an additional 172,523 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Greenlight Capital Re by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock valued at $26,730,000 after buying an additional 48,317 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

About Greenlight Capital Re

(Get Free Report)

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.

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