Greenlight Capital Re (NASDAQ:GLRE) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.67 and traded as high as $13.79. Greenlight Capital Re shares last traded at $13.79, with a volume of 33,214 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Greenlight Capital Re Trading Up 1.8 %

The firm has a market capitalization of $480.33 million, a P/E ratio of 5.47 and a beta of 0.88. The business’s 50 day moving average is $14.36 and its two-hundred day moving average is $13.67. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. The company had revenue of $188.01 million for the quarter. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. During the same quarter last year, the firm posted $0.39 earnings per share.

Insider Buying and Selling

In related news, Director Ian Isaacs sold 7,159 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the transaction, the director now owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Greenlight Capital Re by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock valued at $26,730,000 after purchasing an additional 48,317 shares during the last quarter. Private Management Group Inc. lifted its position in shares of Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock valued at $10,832,000 after acquiring an additional 172,523 shares during the last quarter. State Street Corp lifted its position in shares of Greenlight Capital Re by 1.1% during the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock valued at $7,861,000 after acquiring an additional 6,319 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Greenlight Capital Re in the 3rd quarter worth $4,972,000. Finally, American Century Companies Inc. grew its holdings in shares of Greenlight Capital Re by 36.3% in the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock worth $4,543,000 after acquiring an additional 92,364 shares during the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.

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.