Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Short Interest Up 11.7% in December

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 182,600 shares, an increase of 11.7% from the November 30th total of 163,500 shares. Based on an average trading volume of 85,500 shares, the short-interest ratio is currently 2.1 days. Currently, 0.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Greenlight Capital Re Stock Performance

Shares of NASDAQ:GLRE traded up $0.17 during trading on Wednesday, reaching $14.00. 44,904 shares of the stock were exchanged, compared to its average volume of 84,379. Greenlight Capital Re has a 12 month low of $10.95 and a 12 month high of $15.82. The stock has a 50-day moving average price of $14.38 and a 200-day moving average price of $13.71. 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 market cap of $487.65 million, a PE ratio of 5.56 and a beta of 0.88.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.36. The business had revenue of $188.01 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same quarter last year, the firm earned $0.39 earnings per share.

Hedge Funds Weigh In On Greenlight Capital Re

Hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its position in Greenlight Capital Re by 15.5% during the second quarter. Bank of New York Mellon Corp now owns 103,273 shares of the financial services provider’s stock worth $1,353,000 after buying an additional 13,897 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Greenlight Capital Re by 85.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 20,877 shares of the financial services provider’s stock worth $273,000 after purchasing an additional 9,633 shares in the last quarter. Rhumbline Advisers increased its position in shares of Greenlight Capital Re by 6.8% in the second quarter. Rhumbline Advisers now owns 45,874 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 2,923 shares during the period. Private Management Group Inc. raised its stake in Greenlight Capital Re by 37.3% in the second quarter. Private Management Group Inc. now owns 621,021 shares of the financial services provider’s stock valued at $8,135,000 after purchasing an additional 168,708 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Greenlight Capital Re by 36.3% in 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 purchasing an additional 92,364 shares in the last quarter. 41.52% of the stock is owned by institutional investors.

Greenlight Capital Re Company Profile

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.