34,176 Shares in Greenlight Capital Re, Ltd. $GLRE Bought by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new position in Greenlight Capital Re, buying 34,176 shares worth approximately $463,000 in the first quarter.
• Greenlight Capital Re reported earnings of $0.01 per share, exceeding the consensus estimate of ($0.35), with revenue for the quarter at $179.63 million.
• Wall Street analysts have downgraded Greenlight Capital Re from a "buy" rating to a "hold" rating, reflecting concerns about the company's future performance.

Jacobs Levy Equity Management Inc. purchased a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 34,176 shares of the financial services provider's stock, valued at approximately $463,000. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Greenlight Capital Re at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Greenlight Capital Re by 5,284.0% during the first quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock worth $55,000 after acquiring an additional 3,963 shares in the last quarter. Bfsg LLC raised its holdings in Greenlight Capital Re by 11.5% during the first quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock worth $112,000 after acquiring an additional 855 shares in the last quarter. Bailard Inc. bought a new stake in Greenlight Capital Re during the first quarter worth about $138,000. Virtu Financial LLC bought a new stake in Greenlight Capital Re during the first quarter worth about $156,000. Finally, Squarepoint Ops LLC acquired a new position in Greenlight Capital Re during the fourth quarter worth approximately $186,000. 41.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Greenlight Capital Re Stock Up 0.6%

NASDAQ GLRE traded up $0.08 during trading hours on Monday, hitting $12.55. The company's stock had a trading volume of 1,028,740 shares, compared to its average volume of 82,174. Greenlight Capital Re, Ltd. has a 52 week low of $12.14 and a 52 week high of $15.82. The company has a market capitalization of $429.21 million, a PE ratio of 11.73 and a beta of 0.63. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.09. The company's 50-day simple moving average is $13.01 and its two-hundred day simple moving average is $13.47.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last announced its quarterly 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. 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 for the quarter.

Insider Buying and Selling

In related news, insider Thomas James Curnock sold 11,500 shares of Greenlight Capital Re stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $12.93, for a total value of $148,695.00. Following the completion of the transaction, the insider directly owned 179,832 shares in the company, valued at approximately $2,325,227.76. The trade was a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian Isaacs sold 13,000 shares of Greenlight Capital Re stock in a transaction that occurred 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 of the company's stock, valued at $1,066,541.28. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.55% of the company's stock.

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.