Jacobs Levy Equity Management Inc. Buys New Shares in Greenlight Capital Re, Ltd. $GLRE

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. bought a new stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 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 quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Greenlight Capital Re by 5,284.0% during 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 in the last quarter. Bfsg LLC lifted its holdings in Greenlight Capital Re by 11.5% in the 1st quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock worth $112,000 after buying an additional 855 shares in the last quarter. Bailard Inc. acquired a new position in Greenlight Capital Re in the 1st quarter worth $138,000. Virtu Financial LLC acquired a new position in Greenlight Capital Re in the 1st quarter worth $156,000. Finally, Squarepoint Ops LLC acquired a new position in Greenlight Capital Re in the 4th quarter worth $186,000. Institutional investors and hedge funds own 41.52% of the company's stock.

Insider Transactions at Greenlight Capital Re

In other Greenlight Capital Re news, insider Thomas James Curnock sold 11,500 shares of the company's stock in a transaction dated 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 owned 179,832 shares in the company, valued at approximately $2,325,227.76. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian Isaacs sold 13,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was 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 approximately $1,066,541.28. This trade represents a 15.39% decrease in their position. The disclosure for this sale can be found here. 23.55% of the stock is owned by corporate insiders.

Greenlight Capital Re Stock Up 2.1%

Shares of GLRE traded up $0.27 during midday trading on Thursday, hitting $12.92. The company had a trading volume of 134,600 shares, compared to its average volume of 132,366. The company's 50 day moving average price is $12.95 and its 200 day moving average price is $13.45. The stock has a market cap of $441.86 million, a price-to-earnings ratio of 12.07 and a beta of 0.63. Greenlight Capital Re, Ltd. has a 52 week low of $12.14 and a 52 week high of $15.82. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The financial services provider reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates 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.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a 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.