Punch & Associates Investment Management Inc. Sells 51,617 Shares of Greenlight Capital Re, Ltd. $GLRE

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. lessened its holdings in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 1.70% of Greenlight Capital Re worth $7,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GLRE. GAMMA Investing LLC raised its position in 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 worth $55,000 after purchasing an additional 3,963 shares during the period. Bfsg LLC boosted its position in Greenlight Capital Re by 11.5% during the 1st quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock valued at $112,000 after buying an additional 855 shares during the period. Bailard Inc. purchased a new position in shares of Greenlight Capital Re in the first quarter valued at about $138,000. Virtu Financial LLC purchased a new position in shares of Greenlight Capital Re in the first quarter valued at about $156,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Greenlight Capital Re in the fourth quarter valued at about $186,000. Hedge funds and other institutional investors own 41.52% of the company's stock.

Insider Activity

In other Greenlight Capital Re news, Director Ian Isaacs sold 13,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total value of $193,960.00. Following the completion of the transaction, the director directly owned 71,484 shares in the company, valued at $1,066,541.28. This represents a 15.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas James Curnock sold 11,500 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $12.93, for a total transaction of $148,695.00. Following the transaction, the insider directly 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. 23.55% of the stock is owned by insiders.

Greenlight Capital Re Stock Performance

Shares of NASDAQ GLRE traded up $0.29 during midday trading on Thursday, hitting $12.69. 112,920 shares of the company's stock traded hands, compared to its average volume of 106,290. The stock has a market capitalization of $434.00 million, a price-to-earnings ratio of 11.86 and a beta of 0.63. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a fifty day moving average of $13.11 and a 200 day moving average of $13.50. Greenlight Capital Re, Ltd. has a 1 year low of $12.14 and a 1 year high of $15.82.

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

Analyst Ratings Changes

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

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.