95,801 Shares in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Acquired by Millennium Management LLC

Millennium Management LLC acquired a new stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 95,801 shares of the financial services provider's stock, valued at approximately $1,341,000. Millennium Management LLC owned 0.28% of Greenlight Capital Re as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GLRE. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Greenlight Capital Re in the fourth quarter worth $367,000. Rhumbline Advisers increased its stake in shares of Greenlight Capital Re by 12.5% in the fourth quarter. Rhumbline Advisers now owns 47,675 shares of the financial services provider's stock worth $667,000 after buying an additional 5,304 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Greenlight Capital Re by 62.7% in the fourth quarter. Empowered Funds LLC now owns 108,739 shares of the financial services provider's stock worth $1,522,000 after buying an additional 41,887 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Greenlight Capital Re by 100.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 133,739 shares of the financial services provider's stock worth $1,872,000 after buying an additional 66,887 shares during the last quarter. Finally, Private Management Group Inc. increased its stake in shares of Greenlight Capital Re by 17.3% in the fourth quarter. Private Management Group Inc. now owns 930,479 shares of the financial services provider's stock worth $13,027,000 after buying an additional 136,935 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian Joseph Oreilly sold 8,000 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $14.00, for a total value of $112,000.00. Following the transaction, the insider now owns 99,330 shares of the company's stock, valued at $1,390,620. This trade represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick O'brien sold 7,500 shares of Greenlight Capital Re stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $13.48, for a total value of $101,100.00. Following the sale, the chief operating officer now directly owns 182,925 shares in the company, valued at approximately $2,465,829. This trade represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,500 shares of company stock worth $279,200. Company insiders own 23.55% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Greenlight Capital Re from a "hold" rating to a "buy" rating in a report on Friday, May 9th.

Greenlight Capital Re Stock Performance

Shares of GLRE traded up $0.32 during midday trading on Friday, hitting $14.40. 97,336 shares of the stock traded hands, compared to its average volume of 93,671. Greenlight Capital Re, Ltd. has a 1-year low of $11.95 and a 1-year high of $15.82. The firm has a market capitalization of $497.59 million, a PE ratio of 5.71 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02. The business's 50 day moving average price is $13.46 and its two-hundred day moving average price is $13.76.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.36. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The business had revenue of $247.95 million for the quarter.

Greenlight Capital Re Company 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.