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

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the target of a significant increase in short interest in 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. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 85,500 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

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 Price Performance

Shares of Greenlight Capital Re stock traded up $0.17 during midday trading on Wednesday, hitting $14.00. 44,904 shares of the company traded hands, compared to its average volume of 84,379. The firm’s fifty day moving average price is $14.38 and its 200-day moving average price is $13.71. The stock has a market cap of $487.65 million, a price-to-earnings ratio of 5.56 and a beta of 0.88. Greenlight Capital Re has a 12 month low of $10.95 and a 12 month high of $15.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $188.01 million during the quarter. During the same quarter last year, the company posted $0.39 earnings per share.

Hedge Funds Weigh In On Greenlight Capital Re

Large investors have recently bought and sold shares of the company. Bfsg LLC raised its stake in shares of Greenlight Capital Re by 25.8% during the third quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 1,340 shares during the last quarter. SG Americas Securities LLC bought a new position in Greenlight Capital Re during the 3rd quarter worth $133,000. Centiva Capital LP acquired a new position in Greenlight Capital Re during the 3rd quarter worth about $139,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Greenlight Capital Re in the 2nd quarter valued at about $138,000. Finally, Metis Global Partners LLC acquired a new stake in shares of Greenlight Capital Re in the third quarter valued at about $272,000. 41.52% of the stock is currently owned by 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.