Poehling Capital Management LLC trimmed its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 44.6% in the 2nd quarter, Holdings Channel reports. The firm owned 37,253 shares of the financial services provider’s stock after selling 29,945 shares during the quarter. Poehling Capital Management LLC’s holdings in Greenlight Capital Re were worth $529,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Greenlight Capital Re by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,285,367 shares of the financial services provider’s stock valued at $36,680,000 after purchasing an additional 131,632 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Greenlight Capital Re by 1.1% during the first quarter. BlackRock Inc. now owns 1,985,641 shares of the financial services provider’s stock valued at $31,869,000 after purchasing an additional 20,911 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Greenlight Capital Re by 1.4% during the first quarter. Northern Trust Corp now owns 362,111 shares of the financial services provider’s stock valued at $5,812,000 after purchasing an additional 5,102 shares during the last quarter. Continental Advisors LLC purchased a new stake in shares of Greenlight Capital Re during the first quarter valued at $5,657,000. Finally, River & Mercantile Asset Management LLP lifted its stake in Greenlight Capital Re by 9.5% in the 2nd quarter. River & Mercantile Asset Management LLP now owns 339,960 shares of the financial services provider’s stock worth $4,836,000 after acquiring an additional 29,560 shares in the last quarter. 43.00% of the stock is owned by institutional investors and hedge funds.
Shares of Greenlight Capital Re stock opened at $13.15 on Monday. The stock has a market capitalization of $484.23 million, a P/E ratio of -10.87 and a beta of 0.85. Greenlight Capital Re, Ltd. has a 1 year low of $12.60 and a 1 year high of $23.00.
Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Tuesday, July 31st. The financial services provider reported ($1.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.04. The firm had revenue of $88.08 million during the quarter, compared to the consensus estimate of $103.40 million. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%. analysts predict that Greenlight Capital Re, Ltd. will post -4.45 earnings per share for the current year.
In other Greenlight Capital Re news, Director Leonard R. Goldberg acquired 12,000 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, June 6th. The stock was purchased at an average cost of $15.25 per share, with a total value of $183,000.00. Following the purchase, the director now owns 166,641 shares in the company, valued at $2,541,275.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.38% of the stock is currently owned by corporate insiders.
GLRE has been the subject of several research analyst reports. ValuEngine raised Greenlight Capital Re from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 3rd. BidaskClub downgraded Greenlight Capital Re from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Finally, Zacks Investment Research raised Greenlight Capital Re from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Greenlight Capital Re presently has a consensus rating of “Hold” and a consensus target price of $20.50.
About Greenlight Capital Re
Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.
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