Punch & Associates Investment Management Inc. Sells 165,250 Shares of Greenlight Capital Re, Ltd. $GLRE

Punch & Associates Investment Management Inc. trimmed its holdings in Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 34.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,000 shares of the financial services provider's stock after selling 165,250 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 0.93% of Greenlight Capital Re worth $4,622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 25.6% in the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider's stock worth $21,903,000 after purchasing an additional 306,468 shares during the period. Vanguard Group Inc. boosted its position in shares of Greenlight Capital Re by 3.5% during 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 acquiring an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC boosted its position in shares of Greenlight Capital Re by 6.9% during 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 acquiring an additional 62,707 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider's stock valued at $9,532,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider's stock valued at $4,963,000 after acquiring an additional 13,430 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Greenlight Capital Re

In related news, General Counsel David Sigmon sold 7,500 shares of the stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total transaction of $129,975.00. Following the sale, the general counsel owned 32,678 shares in the company, valued at approximately $566,309.74. This represents a 18.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 11,747 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total value of $198,171.89. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 62,500 shares of company stock worth $1,097,117 in the last 90 days. 24.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GLRE has been the subject of a number of research reports. Zacks Research upgraded Greenlight Capital Re to a "hold" rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen downgraded Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Greenlight Capital Re Stock Up 1.1%

NASDAQ GLRE opened at $16.24 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market capitalization of $538.62 million, a P/E ratio of 6.85 and a beta of 0.33. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. The stock has a 50 day moving average price of $17.32 and a 200-day moving average price of $15.51.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The company had revenue of $189.66 million for the quarter, compared to analysts' expectations of $160.88 million. As a group, equities analysts predict that Greenlight Capital Re, Ltd. will post 2 EPS for the current fiscal year.

Greenlight Capital Re Company 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.

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