Pinnacle Wealth Management Advisory Group LLC Takes $2.48 Million Position in Greenlight Capital Re, Ltd. $GLRE

Key Points

• Pinnacle Wealth Management Advisory Group LLC acquired a new stake of 170,050 shares (~$2.48 million) in Greenlight Capital Re (NASDAQ:GLRE), representing about 0.50% ownership.
• Greenlight Capital Re beat quarterly expectations with EPS of $1.44 vs. $1.12 consensus and $210.3 million in revenue; the stock trades at a PE of 8.13 and a market cap of about $602 million.
• Multiple institutions (including Vanguard and CWA) increased holdings and institutional ownership stands at 41.52%, while recent analyst upgrades have pushed the consensus to a "Buy"/"Strong-Buy" view.

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 170,050 shares of the financial services provider's stock, valued at approximately $2,479,000. Pinnacle Wealth Management Advisory Group LLC owned 0.50% of Greenlight Capital Re as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Greenlight Capital Re by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider's stock valued at $18,667,000 after buying an additional 49,929 shares during the period. Private Management Group Inc. boosted its stake in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider's stock valued at $15,186,000 after buying an additional 136,041 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of Greenlight Capital Re by 6.9% in the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider's stock valued at $14,246,000 after buying an additional 62,707 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Greenlight Capital Re by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider's stock valued at $9,532,000 after buying an additional 2,180 shares during the period. Finally, Orchard Capital Management LLC boosted its stake in shares of Greenlight Capital Re by 2.6% in the 3rd quarter. Orchard Capital Management LLC now owns 244,869 shares of the financial services provider's stock valued at $3,110,000 after buying an additional 6,098 shares during the period. Hedge funds and other institutional investors own 41.52% of the company's stock.

Greenlight Capital Re Price Performance

Shares of GLRE opened at $17.72 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. Greenlight Capital Re, Ltd. has a 1-year low of $11.56 and a 1-year high of $19.39. The stock has a market cap of $602.13 million, a PE ratio of 8.13 and a beta of 0.38. The firm has a fifty day moving average price of $16.70 and a 200 day moving average price of $14.63.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last released its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.32. Greenlight Capital Re had a net margin of 10.25% and a return on equity of 11.10%. The company had revenue of $210.30 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on GLRE shares. Wall Street Zen upgraded Greenlight Capital Re from a "buy" rating to a "strong-buy" rating in a research note on Saturday, April 25th. Weiss Ratings upgraded Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Greenlight Capital Re presently has a consensus rating of "Buy".

Greenlight Capital Re Profile

Greenlight Capital Re Ltd. NASDAQ: GLRE is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent's investment platform.

The company's core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.