Greenlight Capital Re (NASDAQ:GLRE) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Greenlight Capital Re (NASDAQ: GLRE) moved above its 200-day moving average, trading as high as $17.18 before last changing hands at $16.27. This technical breakout is the main catalyst behind the article’s “should you sell?” framing.
• Analyst sentiment is mixed but leans constructive, with one Buy and one Hold rating, giving the stock an overall Moderate Buy rating. Recent updates included a downgrade from Wall Street Zen and a reaffirmed Buy from Weiss Ratings.
• The company recently missed EPS estimates but beat revenue expectations, and insiders have been selling shares over the past 90 days. Despite that, GLRE has strong liquidity and a low beta, while institutional investors still own more than 41% of the stock.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $15.86 and traded as high as $17.18. Greenlight Capital Re shares last traded at $16.27, with a volume of 108,044 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GLRE shares. Wall Street Zen cut shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Zacks Research upgraded shares of Greenlight Capital Re to a "hold" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Greenlight Capital Re in a research report on Monday, July 6th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Greenlight Capital Re Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a fifty day simple moving average of $16.48 and a two-hundred day simple moving average of $15.86. The firm has a market capitalization of $539.68 million, a P/E ratio of 6.86 and a beta of 0.32.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.20). The business had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%. On average, research analysts predict that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Insider Activity at Greenlight Capital Re

In other news, General Counsel David Sigmon sold 7,500 shares of the company's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $17.33, for a total transaction of $129,975.00. Following the transaction, the general counsel owned 32,678 shares in the company, valued at approximately $566,309.74. This represents a 18.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 23,613 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $18.01, for a total transaction of $425,270.13. Following the transaction, the director directly owned 11,747 shares in the company, valued at $211,563.47. This trade represents a 66.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 85,472 shares of company stock valued at $1,472,107 in the last ninety days. Insiders own 24.67% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLRE. Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re by 25.6% in the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider's stock valued at $21,903,000 after buying an additional 306,468 shares in the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Greenlight Capital Re during the fourth quarter worth about $2,480,000. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Greenlight Capital Re in the 4th quarter worth about $2,479,000. Millennium Management LLC raised its holdings in shares of Greenlight Capital Re by 546.5% in the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider's stock worth $2,906,000 after acquiring an additional 168,486 shares during the last quarter. Finally, HRT Financial LP lifted its position in Greenlight Capital Re by 459.1% in the 4th quarter. HRT Financial LP now owns 118,654 shares of the financial services provider's stock valued at $1,729,000 after acquiring an additional 97,433 shares in the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.

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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