Greenlight Capital Re (NASDAQ:GLRE) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 trading hands.

Analyst Ratings Changes

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 Stock Performance

The firm has a 50 day moving average price of $14.36 and a 200 day moving average price of $13.67. The stock has a market cap of $483.82 million, a PE ratio of 5.51 and a beta of 0.88. 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 - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.36. The firm had revenue of $188.01 million during the quarter. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. During the same period in the previous year, the company posted $0.39 EPS.

Insider Activity

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the 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 completion of the sale, the director now directly owns 86,984 shares of the company's stock, valued at approximately $1,201,249.04. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 22.79% of the company's stock.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors and hedge funds have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new stake in shares of Greenlight Capital Re in the 3rd quarter worth $4,972,000. Private Management Group Inc. grew its stake in shares of Greenlight Capital Re by 27.8% during the third quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider's stock worth $10,832,000 after acquiring an additional 172,523 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Greenlight Capital Re by 36.3% during the second quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider's stock valued at $4,543,000 after acquiring an additional 92,364 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Greenlight Capital Re in the 3rd quarter valued at approximately $1,188,000. Finally, Bank of Montreal Can purchased a new position in shares of Greenlight Capital Re in the 2nd quarter valued at approximately $894,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

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.