Greenlight Capital Re (NASDAQ:GLRE) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.95 and traded as high as $14.08. Greenlight Capital Re shares last traded at $13.73, with a volume of 100,033 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Greenlight Capital Re Trading Down 0.9 %

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. The company has a market cap of $478.24 million, a price-to-earnings ratio of 5.45 and a beta of 0.88. The business has a fifty day simple moving average of $13.70 and a 200 day simple moving average of $13.95.

Institutional Trading of Greenlight Capital Re

Institutional investors have recently added to or reduced their stakes in the stock. CWA Asset Management Group LLC acquired a new stake in shares of Greenlight Capital Re during the 3rd quarter valued at approximately $4,972,000. Metis Global Partners LLC acquired a new position in Greenlight Capital Re during the third quarter worth $272,000. Empowered Funds LLC boosted its position in Greenlight Capital Re by 232.8% during the third quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock worth $913,000 after purchasing an additional 46,764 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Greenlight Capital Re by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 77,154 shares of the financial services provider’s stock valued at $1,053,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in Greenlight Capital Re by 5.5% in the third quarter. Independent Advisor Alliance now owns 61,127 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

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.