Sierra Summit Advisors LLC Has $673,000 Position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Sierra Summit Advisors LLC raised its stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 16.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,409 shares of the financial services provider’s stock after acquiring an additional 7,191 shares during the period. Sierra Summit Advisors LLC owned approximately 0.15% of Greenlight Capital Re worth $673,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. CWM LLC raised its stake in Greenlight Capital Re by 37.3% in the second quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,005 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Greenlight Capital Re by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,958 shares of the financial services provider’s stock valued at $486,000 after buying an additional 1,323 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Greenlight Capital Re by 2.9% during the 1st quarter. BNP Paribas Financial Markets now owns 51,052 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 1,418 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Greenlight Capital Re during the 2nd quarter worth approximately $37,000. Finally, Rhumbline Advisers boosted its position in shares of Greenlight Capital Re by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 45,874 shares of the financial services provider’s stock worth $601,000 after acquiring an additional 2,923 shares in the last quarter. 41.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Greenlight Capital Re Stock Performance

NASDAQ:GLRE opened at $13.98 on Monday. Greenlight Capital Re, Ltd. has a twelve month low of $10.49 and a twelve month high of $14.27. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.10. The stock’s 50-day simple moving average is $13.28 and its 200 day simple moving average is $12.83. The firm has a market capitalization of $493.77 million, a PE ratio of 4.68 and a beta of 0.86.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The company had revenue of $174.86 million during the quarter. Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%.

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.