Greenlight Capital Re, Ltd. $GLRE Stock: Private Management Group Inc. Boosts Holdings

Key Points

• Private Management Group increased its Greenlight Capital Re stake by 10.9% in the third quarter, adding 159,686 shares to hold about 4.98% of the company. Institutional investors collectively own 41.52% of GLRE.
• Greenlight Capital Re reported quarterly EPS of $0.10, beating analysts’ consensus estimate of a $0.25 loss; revenue was $148.29 million.
• Analyst views improved, with one rating Buy and one Hold, for a MarketBeat consensus of “Moderate Buy.” Insiders, however, sold 63,500 shares over the past three months.

Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 10.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,626,461 shares of the financial services provider's stock after buying an additional 159,686 shares during the period. Private Management Group Inc. owned approximately 4.98% of Greenlight Capital Re worth $23,584,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GLRE. PNC Financial Services Group Inc. increased its position in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 1,698 shares during the period. Vise Technologies Inc. acquired a new stake in Greenlight Capital Re during the 3rd quarter worth about $157,000. Bfsg LLC grew its stake in Greenlight Capital Re by 11.0% during the 3rd quarter. Bfsg LLC now owns 13,120 shares of the financial services provider's stock valued at $190,000 after purchasing an additional 1,300 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Greenlight Capital Re by 14.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider's stock valued at $310,000 after purchasing an additional 2,309 shares during the last quarter. Finally, Engineers Gate Manager LP grew its stake in Greenlight Capital Re by 9.1% during the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 1,705 shares during the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Stock Up 0.3%

NASDAQ:GLRE opened at $16.13 on Tuesday. The firm has a market capitalization of $526.48 million, a P/E ratio of 9.63 and a beta of 0.28. Greenlight Capital Re, Ltd. has a 1-year low of $12.59 and a 1-year high of $19.39. The company's fifty day moving average price is $15.06 and its 200-day moving average price is $15.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.40 and a quick ratio of 2.43.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its earnings results on Monday, November 2nd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.35. Greenlight Capital Re had a net margin of 8.56% and a return on equity of 8.26%. The firm had revenue of $148.29 million during the quarter. As a group, equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 0.50 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on GLRE shares. Wall Street Zen upgraded Greenlight Capital Re from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, November 3rd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Greenlight Capital Re has a consensus rating of "Moderate Buy".

Insiders Place Their Bets

In other Greenlight Capital Re news, insider Sherry Diaz sold 13,500 shares of Greenlight Capital Re stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.08, for a total transaction of $203,580.00. Following the completion of the transaction, the insider owned 86,879 shares in the company, valued at approximately $1,310,135.32. This trade represents a 13.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ian Isaacs sold 5,150 shares of Greenlight Capital Re stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $14.90, for a total value of $76,735.00. Following the transaction, the director owned 37,992 shares of the company's stock, valued at $566,080.80. The trade was a 11.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 63,500 shares of company stock valued at $990,305. Company insiders own 24.67% of the company's stock.

Greenlight Capital Re Profile

Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.

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