Greenlight Capital Re, Ltd. $GLRE Shares Sold by Punch & Associates Investment Management Inc.

Key Points

• Punch & Associates Investment Management Inc. reduced its holdings in Greenlight Capital Re by 8.1%, owning 588,464 shares worth approximately $7.97 million after selling 51,617 shares in the first quarter.
• Greenlight Capital Re's stock opened at $12.74 and has a market cap of $435.71 million, with a one-year price range of $12.14 to $15.82.
• Insider Thomas James Curnock sold 11,500 shares at an average price of $12.93, reducing his ownership by 6.01%, while director Ian Isaacs sold 13,000 shares, decreasing his stake by 15.39%.

Punch & Associates Investment Management Inc. lowered its stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 588,464 shares of the financial services provider's stock after selling 51,617 shares during the quarter. Punch & Associates Investment Management Inc. owned about 1.70% of Greenlight Capital Re worth $7,974,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GLRE. GAMMA Investing LLC raised its stake in shares of Greenlight Capital Re by 5,284.0% in the 1st quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 3,963 shares during the period. Bfsg LLC raised its position in Greenlight Capital Re by 11.5% in the first quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 855 shares during the period. Bailard Inc. acquired a new position in Greenlight Capital Re during the first quarter worth $138,000. Virtu Financial LLC acquired a new position in Greenlight Capital Re during the first quarter worth $156,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Greenlight Capital Re during the fourth quarter worth $186,000. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Greenlight Capital Re news, Director Ian Isaacs sold 13,000 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $14.92, for a total transaction of $193,960.00. Following the completion of the transaction, the director owned 71,484 shares in the company, valued at approximately $1,066,541.28. This represents a 15.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas James Curnock sold 11,500 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $12.93, for a total transaction of $148,695.00. Following the completion of the sale, the insider owned 179,832 shares of the company's stock, valued at $2,325,227.76. This trade represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.55% of the company's stock.

Greenlight Capital Re Stock Down 0.9%

NASDAQ:GLRE traded down $0.11 during mid-day trading on Tuesday, hitting $12.59. The stock had a trading volume of 119,944 shares, compared to its average volume of 89,546. The company has a market capitalization of $430.58 million, a PE ratio of 11.77 and a beta of 0.63. The stock has a 50-day simple moving average of $13.15 and a two-hundred day simple moving average of $13.50. Greenlight Capital Re, Ltd. has a twelve month low of $12.14 and a twelve month high of $15.82. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The financial services provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.36. Greenlight Capital Re had a net margin of 5.37% and a return on equity of 5.75%. The business had revenue of $179.63 million during the quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

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.