Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Short Interest Up 433.6% in July

Key Points

• Short interest in Greenlight Capital Re (NASDAQ:GLRE) surged by 433.6% in July, reaching a total of 1,150,000 shares, indicating growing bearish sentiment among investors.
• The stock of Greenlight Capital Re has decreased by 1.8%, currently trading at $12.76, while having a market cap of approximately $440.99 million.
• Recent insider sales included Director Ian Isaacs selling 13,000 shares at an average price of $14.92, reflecting a 15.39% decrease in his ownership of the stock.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 1,150,000 shares, anincreaseof433.6% from the June 30th total of 215,500 shares. Based on an average daily trading volume, of 121,400 shares, the days-to-cover ratio is currently 9.5 days. Currently,4.4% of the company's shares are short sold. Currently,4.4% of the company's shares are short sold. Based on an average daily trading volume, of 121,400 shares, the days-to-cover ratio is currently 9.5 days.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Insider Activity

In other Greenlight Capital Re news, COO Patrick O'brien sold 7,500 shares of Greenlight Capital Re stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $13.48, for a total transaction of $101,100.00. Following the transaction, the chief operating officer directly owned 182,925 shares in the company, valued at approximately $2,465,829. The trade was a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ian Isaacs sold 13,000 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $14.92, for a total value of $193,960.00. Following the completion of the sale, the director owned 71,484 shares of the company's stock, valued at $1,066,541.28. The trade was a 15.39% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,500 shares of company stock valued at $361,160. Corporate insiders own 23.55% of the company's stock.

Institutional Investors Weigh In On Greenlight Capital Re

Several institutional investors have recently made changes to their positions in the company. Aquatic Capital Management LLC increased its holdings in 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 buying an additional 2,995 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Greenlight Capital Re by 5,284.0% during the 1st quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock worth $55,000 after purchasing an additional 3,963 shares during the last quarter. CWM LLC boosted its holdings in Greenlight Capital Re by 25.7% in the second quarter. CWM LLC now owns 6,149 shares of the financial services provider's stock worth $88,000 after purchasing an additional 1,256 shares in the last quarter. Bfsg LLC raised its holdings in 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 in the last quarter. Finally, Bailard Inc. acquired a new stake in shares of Greenlight Capital Re in the first quarter worth about $138,000. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Greenlight Capital Re Stock Up 0.3%

Greenlight Capital Re stock traded up $0.05 during trading hours on Wednesday, hitting $13.07. The company had a trading volume of 47,771 shares, compared to its average volume of 108,007. The firm's fifty day moving average is $13.94 and its 200-day moving average is $13.62. The firm has a market capitalization of $451.53 million, a P/E ratio of 12.21 and a beta of 0.67. Greenlight Capital Re has a fifty-two week low of $11.95 and a fifty-two week high of $15.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.90 and a quick ratio of 2.90.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The financial services provider reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.35) by $0.36. The business had revenue of $179.63 million for the quarter. Greenlight Capital Re had a net margin of 5.37% and a return on equity of 5.76%.

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.