Short Interest in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Decreases By 15.0%

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 141,200 shares, a decline of 15.0% from the February 13th total of 166,200 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 79,800 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Trading of Greenlight Capital Re

A number of hedge funds and other institutional investors have recently modified their holdings of GLRE. Metis Global Partners LLC purchased a new stake in shares of Greenlight Capital Re in the 3rd quarter worth about $272,000. Empowered Funds LLC grew its position in shares of Greenlight Capital Re by 232.8% in the 3rd quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock worth $913,000 after buying an additional 46,764 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Greenlight Capital Re by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 77,154 shares of the financial services provider’s stock worth $1,053,000 after buying an additional 2,318 shares during the period. Independent Advisor Alliance grew its position in shares of Greenlight Capital Re by 5.5% in the 3rd quarter. Independent Advisor Alliance now owns 61,127 shares of the financial services provider’s stock worth $834,000 after buying an additional 3,200 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Greenlight Capital Re by 13.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 55,685 shares of the financial services provider’s stock worth $760,000 after buying an additional 6,543 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Greenlight Capital Re Stock Down 0.6 %

Shares of Greenlight Capital Re stock opened at $13.42 on Friday. 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 company’s fifty day simple moving average is $13.61 and its two-hundred day simple moving average is $13.93. The company has a market cap of $467.45 million, a P/E ratio of 5.33 and a beta of 0.86. Greenlight Capital Re has a 12-month low of $11.72 and a 12-month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.40). The business had revenue of $143.76 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%.

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.