Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Shares Sold by Orchard Capital Management LLC

Orchard Capital Management LLC cut its stake in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891,366 shares of the financial services provider’s stock after selling 10,789 shares during the quarter. Greenlight Capital Re comprises approximately 3.5% of Orchard Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Orchard Capital Management LLC’s holdings in Greenlight Capital Re were worth $11,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets increased its position in shares of Greenlight Capital Re by 41.1% during the 4th quarter. BNP Paribas Financial Markets now owns 49,634 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 14,452 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Greenlight Capital Re by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,902,489 shares of the financial services provider’s stock worth $21,726,000 after purchasing an additional 104,721 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Greenlight Capital Re during the 4th quarter worth about $409,000. ADAR1 Capital Management LLC acquired a new stake in shares of Greenlight Capital Re during the 4th quarter worth about $389,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Greenlight Capital Re during the 4th quarter worth about $218,000. 41.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Greenlight Capital Re Stock Performance

Shares of Greenlight Capital Re stock opened at $14.11 on Friday. The business has a 50-day moving average of $13.40 and a 200 day moving average of $12.87. Greenlight Capital Re, Ltd. has a 12 month low of $10.49 and a 12 month high of $14.27. The stock has a market capitalization of $498.38 million, a price-to-earnings ratio of 4.72 and a beta of 0.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.00 and a quick ratio of 3.00.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%. The firm had revenue of $174.86 million for the quarter.

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.