Corsair Capital Management L.P. Sells 5,000 Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

Corsair Capital Management L.P. reduced its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 12.3% in the third quarter, HoldingsChannel.com reports. The fund owned 35,602 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Corsair Capital Management L.P.’s holdings in Greenlight Capital Re were worth $486,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GLRE. State Board of Administration of Florida Retirement System bought a new stake in shares of Greenlight Capital Re during the 1st quarter worth $454,000. Vanguard Group Inc. raised its position in Greenlight Capital Re by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock worth $16,753,000 after purchasing an additional 8,489 shares during the period. Price T Rowe Associates Inc. MD raised its position in Greenlight Capital Re by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,958 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 1,323 shares during the period. Boston Partners purchased a new position in Greenlight Capital Re in the 1st quarter worth $828,000. Finally, CWM LLC raised its position in Greenlight Capital Re by 37.3% in the 2nd quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,005 shares during the period. 41.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Greenlight Capital Re from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Greenlight Capital Re Price Performance

Shares of NASDAQ:GLRE opened at $15.03 on Wednesday. The company’s fifty day moving average is $14.02 and its 200 day moving average is $13.47. Greenlight Capital Re, Ltd. has a 52 week low of $10.80 and a 52 week high of $15.82. The stock has a market cap of $523.49 million, a PE ratio of 5.96 and a beta of 0.85. 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 data on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.36. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The firm had revenue of $188.01 million for the quarter. During the same quarter in the previous year, the firm posted $0.39 EPS.

Insider Buying and Selling at Greenlight Capital Re

In other news, Director Ian Isaacs sold 7,159 shares of Greenlight Capital Re stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $13.81, for a total transaction of $98,865.79. Following the sale, the director now owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.79% 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.