Greenlight Capital Re (NASDAQ:GLRE) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.74 and traded as high as $14.56. Greenlight Capital Re shares last traded at $14.41, with a volume of 103,756 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Greenlight Capital Re from a "hold" rating to a "buy" rating in a research note on Friday, May 9th.

Greenlight Capital Re Price Performance

The stock has a market capitalization of $498.01 million, a P/E ratio of 11.17 and a beta of 0.67. The business has a fifty day simple moving average of $13.69 and a 200 day simple moving average of $13.74. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.09.

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

Insiders Place Their Bets

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 shares were sold at an average price of $13.22, for a total value of $66,100.00. Following the completion of the transaction, the chief operating officer now directly owns 170,425 shares in the company, valued at approximately $2,253,018.50. The trade was a 2.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Joseph Oreilly sold 8,000 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $14.00, for a total value of $112,000.00. Following the sale, the insider now owns 99,330 shares in the company, valued at approximately $1,390,620. This represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,500 shares of company stock valued at $279,200. Insiders own 23.55% of the company's stock.

Hedge Funds Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently bought and sold shares of GLRE. Bfsg LLC grew its stake in shares of Greenlight Capital Re by 11.5% during the first quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock valued at $112,000 after buying an additional 855 shares during the last quarter. PDT Partners LLC boosted its position in shares of Greenlight Capital Re by 5.1% in the 4th quarter. PDT Partners LLC now owns 22,655 shares of the financial services provider's stock worth $317,000 after purchasing an additional 1,109 shares in the last quarter. MetLife Investment Management LLC increased its position in shares of Greenlight Capital Re by 12.5% during the fourth quarter. MetLife Investment Management LLC now owns 16,518 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 1,836 shares in the last quarter. Stifel Financial Corp grew its position in Greenlight Capital Re by 5.1% in the 4th quarter. Stifel Financial Corp now owns 48,495 shares of the financial services provider's stock worth $679,000 after purchasing an additional 2,360 shares during the period. Finally, Boston Partners increased its position in Greenlight Capital Re by 4.0% during the first quarter. Boston Partners now owns 69,065 shares of the financial services provider's stock valued at $936,000 after acquiring an additional 2,676 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company's stock.

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.

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