Ninety One UK Ltd Cuts Stock Position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Ninety One UK Ltd lessened its position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 34.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 204,687 shares of the financial services provider's stock after selling 105,753 shares during the period. Ninety One UK Ltd owned about 0.59% of Greenlight Capital Re worth $2,774,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GLRE. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Greenlight Capital Re in the fourth quarter valued at approximately $367,000. GAMMA Investing LLC raised its holdings 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 valued at $55,000 after acquiring an additional 3,963 shares during the period. Millennium Management LLC bought a new position in Greenlight Capital Re in the 4th quarter valued at about $1,341,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Greenlight Capital Re by 26.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 74,005 shares of the financial services provider's stock valued at $1,036,000 after buying an additional 15,645 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in Greenlight Capital Re by 100.1% during the 4th quarter. Bridgeway Capital Management LLC now owns 133,739 shares of the financial services provider's stock worth $1,872,000 after acquiring an additional 66,887 shares during the period. Institutional investors and hedge funds own 41.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

Greenlight Capital Re Price Performance

NASDAQ:GLRE traded down $0.24 during trading hours on Thursday, hitting $13.61. The company's stock had a trading volume of 14,746 shares, compared to its average volume of 100,539. The stock has a fifty day simple moving average of $14.05 and a 200-day simple moving average of $13.71. The company has a market capitalization of $470.19 million, a P/E ratio of 10.58 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.90 and a quick ratio of 2.90. Greenlight Capital Re, Ltd. has a twelve month low of $11.95 and a twelve month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its earnings results on Wednesday, May 7th. The financial services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.50 by $0.36. The firm had revenue of $247.95 million during the quarter. Greenlight Capital Re had a return on equity of 6.99% and a net margin of 6.33%.

Insider Buying and Selling

In related news, COO Patrick O'brien sold 5,000 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $13.22, for a total transaction of $66,100.00. Following the transaction, the chief operating officer owned 170,425 shares of the company's stock, valued at $2,253,018.50. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $193,960.00. Following the transaction, the director directly owned 71,484 shares in the company, valued at approximately $1,066,541.28. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,500 shares of company stock valued at $361,160 in the last three months. Insiders own 23.55% of the company's stock.

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.