Greenlight Capital Re (NASDAQ:GLRE) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.20 and traded as high as $13.98. Greenlight Capital Re shares last traded at $13.94, with a volume of 80,743 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Greenlight Capital Re in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Greenlight Capital Re Price Performance

The company has a 50 day moving average price of $14.00 and a 200-day moving average price of $13.20. The company has a market cap of $475.35 million, a price-to-earnings ratio of -199.14 and a beta of 0.54. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at Greenlight Capital Re

In related news, Director Joseph P. Platt, Jr. bought 5,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average cost of $12.97 per share, with a total value of $64,850.00. Following the transaction, the director directly owned 5,000 shares in the company, valued at approximately $64,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ursuline F. Foley bought 5,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were bought at an average cost of $12.92 per share, for a total transaction of $64,600.00. Following the completion of the acquisition, the director directly owned 54,100 shares in the company, valued at approximately $698,972. This trade represents a 10.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 23.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Management Group Inc. boosted its holdings in 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 acquiring an additional 306,468 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Greenlight Capital Re by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after purchasing an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC increased its position in shares of Greenlight Capital Re by 6.9% during the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after buying an additional 62,707 shares during the period. Ameriprise Financial Inc. raised its stake in Greenlight Capital Re by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after buying an additional 2,180 shares during the last quarter. Finally, Orchard Capital Management LLC lifted its holdings in Greenlight Capital Re by 2.6% in the third quarter. Orchard Capital Management LLC now owns 244,869 shares of the financial services provider’s stock valued at $3,110,000 after buying an additional 6,098 shares during the period. 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.