Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Position Boosted by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC grew its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Free Report) by 100.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,739 shares of the financial services provider's stock after purchasing an additional 66,887 shares during the quarter. Bridgeway Capital Management LLC owned 0.38% of Greenlight Capital Re worth $1,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GLRE. R Squared Ltd acquired a new position in shares of Greenlight Capital Re during the fourth quarter worth about $29,000. Aquatic Capital Management LLC lifted its stake in shares of Greenlight Capital Re by 374.4% in the fourth quarter. Aquatic Capital Management LLC now owns 3,795 shares of the financial services provider's stock worth $53,000 after acquiring an additional 2,995 shares in the last quarter. Bfsg LLC lifted its stake in shares of Greenlight Capital Re by 13.3% in the fourth quarter. Bfsg LLC now owns 7,405 shares of the financial services provider's stock worth $104,000 after acquiring an additional 870 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Greenlight Capital Re in the fourth quarter worth about $144,000. Finally, SG Americas Securities LLC lifted its stake in shares of Greenlight Capital Re by 20.2% in the fourth quarter. SG Americas Securities LLC now owns 11,715 shares of the financial services provider's stock worth $164,000 after acquiring an additional 1,971 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company's stock.

Insider Activity

In related news, insider Brian Joseph Oreilly sold 8,000 shares of the stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $14.00, for a total value of $112,000.00. Following the completion of the transaction, the insider now directly owns 99,330 shares of the company's stock, valued at $1,390,620. This represents a 7.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 22.79% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Greenlight Capital Re from a "hold" rating to a "buy" rating in a research note on Friday.

Greenlight Capital Re Stock Performance

Shares of NASDAQ:GLRE traded up $0.01 during trading on Tuesday, hitting $13.30. 80,971 shares of the company traded hands, compared to its average volume of 90,771. The stock has a market capitalization of $459.70 million, a price-to-earnings ratio of 5.28 and a beta of 0.67. The business's fifty day moving average is $13.33 and its 200-day moving average is $13.81. Greenlight Capital Re, Ltd. has a one year low of $11.95 and a one year high of $15.82. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09.

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 company had revenue of $247.95 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%.

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.