Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Significant Drop in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 166,200 shares, a decrease of 15.1% from the January 31st total of 195,800 shares. Based on an average daily trading volume, of 81,300 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.6% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Greenlight Capital Re

Large investors have recently added to or reduced their stakes in the business. Bfsg LLC lifted its stake in Greenlight Capital Re by 13.3% during the fourth quarter. Bfsg LLC now owns 7,405 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 870 shares during the last quarter. PDT Partners LLC boosted its position in shares of Greenlight Capital Re by 5.1% in the fourth quarter. PDT Partners LLC now owns 22,655 shares of the financial services provider’s stock worth $317,000 after acquiring an additional 1,109 shares during the last quarter. Martingale Asset Management L P lifted its position in Greenlight Capital Re by 5.0% during the 3rd quarter. Martingale Asset Management L P now owns 29,665 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 1,422 shares in the last quarter. MetLife Investment Management LLC boosted its position in Greenlight Capital Re by 12.5% in the 4th quarter. MetLife Investment Management LLC now owns 16,518 shares of the financial services provider’s stock valued at $231,000 after buying an additional 1,836 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Greenlight Capital Re by 20.2% during the 4th quarter. SG Americas Securities LLC now owns 11,715 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 1,971 shares in the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Stock Up 0.2 %

GLRE stock opened at $13.89 on Wednesday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average of $13.70 and a two-hundred day moving average of $13.95. Greenlight Capital Re has a 12 month low of $11.72 and a 12 month high of $15.82. The company has a market cap of $483.82 million, a price-to-earnings ratio of 5.51 and a beta of 0.88.

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.