Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Large Growth in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 528,100 shares, a growth of 13.4% from the June 30th total of 465,500 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 70,500 shares, the days-to-cover ratio is presently 7.5 days.

Analysts Set New Price Targets

Separately, StockNews.com cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Friday, May 17th.

Greenlight Capital Re Stock Up 0.9 %

NASDAQ GLRE traded up $0.12 during trading on Wednesday, hitting $13.80. The stock had a trading volume of 107,968 shares, compared to its average volume of 74,787. The company has a market capitalization of $487.42 million, a PE ratio of 4.57 and a beta of 0.84. The company’s 50-day moving average price is $13.00 and its two-hundred day moving average price is $12.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.09 and a current ratio of 3.09. Greenlight Capital Re has a 12 month low of $10.14 and a 12 month high of $13.96.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter. Greenlight Capital Re had a return on equity of 18.32% and a net margin of 15.69%. The company had revenue of $182.89 million for the quarter.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently made changes to their positions in GLRE. Dimensional Fund Advisors LP raised its stake in Greenlight Capital Re by 5.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,902,489 shares of the financial services provider’s stock valued at $21,726,000 after acquiring an additional 104,721 shares during the period. Vanguard Group Inc. raised its stake 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 valued at $16,753,000 after acquiring an additional 8,489 shares during the period. Private Management Group Inc. raised its stake in Greenlight Capital Re by 69.0% in the 1st quarter. Private Management Group Inc. now owns 452,313 shares of the financial services provider’s stock valued at $5,640,000 after acquiring an additional 184,620 shares during the period. Lancaster Investment Management bought a new stake in Greenlight Capital Re in the 4th quarter valued at $1,256,000. Finally, Bank of New York Mellon Corp raised its stake in Greenlight Capital Re by 15.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 103,273 shares of the financial services provider’s stock valued at $1,353,000 after acquiring an additional 13,897 shares during the period. Institutional investors own 41.52% 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.