Hillsdale Investment Management Inc. Purchases New Position in Greenlight Capital Re, Ltd. $GLRE

Hillsdale Investment Management Inc. purchased a new stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,598 shares of the financial services provider’s stock, valued at approximately $1,117,000.

Several other hedge funds have also bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Greenlight Capital Re by 4.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 1,429 shares during the period. Bank of America Corp DE lifted its stake in shares of Greenlight Capital Re by 3.8% in the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 1,451 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,627 shares during the period. Independent Advisor Alliance boosted its holdings in Greenlight Capital Re by 2.8% during the fourth quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock worth $941,000 after buying an additional 1,751 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in Greenlight Capital Re by 6.7% during the fourth quarter. State of Wisconsin Investment Board now owns 31,981 shares of the financial services provider’s stock worth $466,000 after buying an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Analyst Upgrades and Downgrades

GLRE has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Greenlight Capital Re in a report on Monday, July 6th. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Greenlight Capital Re currently has an average rating of “Moderate Buy”.

Greenlight Capital Re Stock Performance

NASDAQ GLRE opened at $16.80 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The stock’s 50 day simple moving average is $16.46 and its 200-day simple moving average is $15.87. The company has a market cap of $557.26 million, a PE ratio of 7.09 and a beta of 0.32. Greenlight Capital Re, Ltd. has a 1-year low of $11.56 and a 1-year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The firm had revenue of $189.66 million during the quarter, compared to analyst estimates of $160.88 million. As a group, equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 9,230 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $16.33, for a total value of $150,725.90. Following the transaction, the director directly owned 60,191 shares of the company’s stock, valued at $982,919.03. This trade represents a 13.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David Sigmon sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total value of $129,975.00. Following the transaction, the general counsel owned 32,678 shares in the company, valued at approximately $566,309.74. This represents a 18.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 85,472 shares of company stock valued at $1,472,107. Corporate insiders own 24.67% of the company’s stock.

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.