Renaissance Technologies LLC Invests $1.34 Million in Greenlight Capital Re, Ltd. $GLRE

Renaissance Technologies LLC acquired a new position in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 77,650 shares of the financial services provider’s stock, valued at approximately $1,343,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLRE. BNP Paribas Financial Markets boosted its holdings in Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after buying an additional 1,429 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Greenlight Capital Re by 3.8% in the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock valued at $564,000 after buying an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Greenlight Capital Re by 90.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,627 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Greenlight Capital Re by 3,773.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,698 shares during the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Greenlight Capital Re by 2.8% during the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock valued at $941,000 after acquiring an additional 1,751 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

Greenlight Capital Re Stock Up 1.6%

GLRE stock opened at $15.70 on Friday. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The company’s 50 day simple moving average is $16.30 and its 200-day simple moving average is $16.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a market capitalization of $520.77 million, a P/E ratio of 10.68 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.The firm had revenue of $137.46 million during the quarter, compared to analyst estimates of $165.31 million. As a group, equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Insiders Place Their Bets

In other news, COO Patrick O’brien sold 3,026 shares of Greenlight Capital Re stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $16.36, for a total transaction of $49,505.36. Following the transaction, the chief operating officer owned 208,633 shares in the company, valued at approximately $3,413,235.88. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 11,747 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total value of $198,171.89. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,332 shares of company stock worth $998,432 over the last three months. Company insiders own 24.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLRE. Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Weiss Ratings downgraded Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Greenlight Capital Re Profile

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.