Greenlight Capital Re (NASDAQ:GLRE) Stock Passes Above Two Hundred Day Moving Average - What's Next?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.71 and traded as high as $14.40. Greenlight Capital Re shares last traded at $14.33, with a volume of 44,922 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen cut Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Saturday.

Greenlight Capital Re Stock Down 2.9%

The firm has a market capitalization of $480.73 million, a PE ratio of 10.78 and a beta of 0.66. The company has a fifty day moving average price of $14.02 and a 200-day moving average price of $13.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.90 and a current ratio of 2.90.

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

Insider Activity at Greenlight Capital Re

In related news, COO Patrick O'brien sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $13.22, for a total transaction of $66,100.00. Following the completion of the sale, the chief operating officer directly owned 170,425 shares of the company's stock, valued at approximately $2,253,018.50. This trade represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ian Isaacs sold 13,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total value of $193,960.00. Following the sale, the director directly owned 71,484 shares of the company's stock, valued at $1,066,541.28. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,500 shares of company stock valued at $361,160 over the last ninety days. Corporate insiders own 23.55% of the company's stock.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Greenlight Capital Re during the 1st quarter worth approximately $335,000. Empowered Funds LLC increased its holdings in Greenlight Capital Re by 8.3% during the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider's stock worth $1,596,000 after purchasing an additional 9,066 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Greenlight Capital Re during the 1st quarter worth $463,000. AQR Capital Management LLC increased its holdings in Greenlight Capital Re by 61.1% during the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider's stock worth $608,000 after purchasing an additional 17,029 shares during the period. Finally, Martingale Asset Management L P increased its holdings in Greenlight Capital Re by 5.0% during the 1st quarter. Martingale Asset Management L P now owns 89,138 shares of the financial services provider's stock worth $1,208,000 after purchasing an additional 4,223 shares during the period. 41.52% of the stock is owned by institutional investors.

Greenlight Capital Re Company Profile

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.