Greenlight Capital Re (NASDAQ:GLRE) Hits New 1-Year High - Should You Buy?

Key Points

• 52-week high: GLRE shares reached an intraday 52-week high of $19.25 (last seen around $17.91) on Wednesday, with the 50‑day and 200‑day moving averages at $15.62 and $14.12, respectively, signaling recent upward momentum.
• Analyst sentiment: The consensus from recent reports is a Buy rating overall, including an upgrade from Weiss Ratings to "buy" while Wall Street Zen trimmed its rating to "buy" from "strong-buy."
• Fundamentals and ownership: The company posted a quarterly EPS of $1.44 beating estimates, has a market cap of $608 million with a PE of 8.23, very low debt (debt/equity 0.01) and institutional ownership of about 41.5%.

Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $19.25 and last traded at $17.9050, with a volume of 10314 shares traded. The stock had previously closed at $18.11.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GLRE shares. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a report on Tuesday, March 17th. Wall Street Zen cut Greenlight Capital Re from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Greenlight Capital Re has an average rating of "Buy".

Greenlight Capital Re Trading Down 1.2%

The company has a market cap of $608.11 million, a PE ratio of 8.23 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. The company has a 50-day moving average of $15.62 and a 200 day moving average of $14.12.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its position in shares of Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider's stock valued at $145,000 after buying an additional 1,296 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider's stock valued at $441,000 after buying an additional 1,429 shares during the period. Bank of America Corp DE boosted its position in shares of Greenlight Capital Re by 3.8% during the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider's stock valued at $564,000 after buying an additional 1,451 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock valued at $49,000 after buying an additional 1,627 shares during the period. Finally, Independent Advisor Alliance boosted its position in shares of Greenlight Capital Re by 2.8% during the fourth quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider's stock valued at $941,000 after buying an additional 1,751 shares during the period. Hedge funds and other institutional investors own 41.52% of the company's stock.

About Greenlight Capital Re

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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