Dimensional Fund Advisors LP Increases Stake in Greenlight Reinsurance, Ltd. (NASDAQ:GLRE)

Dimensional Fund Advisors LP raised its stake in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,792,332 shares of the financial services provider’s stock after buying an additional 156,858 shares during the period. Dimensional Fund Advisors LP owned approximately 4.79% of Greenlight Reinsurance worth $39,611,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in Greenlight Reinsurance by 247.2% in the fourth quarter. Renaissance Technologies LLC now owns 174,284 shares of the financial services provider’s stock valued at $3,974,000 after buying an additional 124,084 shares in the last quarter. State Street Corp boosted its position in Greenlight Reinsurance by 9.7% in the fourth quarter. State Street Corp now owns 631,636 shares of the financial services provider’s stock valued at $14,398,000 after buying an additional 55,606 shares in the last quarter. Norges Bank purchased a new position in Greenlight Reinsurance during the fourth quarter valued at about $6,623,000. Moon Capital Management LLC boosted its position in Greenlight Reinsurance by 5.7% in the first quarter. Moon Capital Management LLC now owns 68,700 shares of the financial services provider’s stock valued at $1,518,000 after buying an additional 3,705 shares in the last quarter. Finally, AXA purchased a new position in Greenlight Reinsurance during the first quarter valued at about $375,000. 47.72% of the stock is currently owned by institutional investors and hedge funds.

Greenlight Reinsurance, Ltd. (GLRE) traded down 0.45% during trading on Friday, reaching $22.20. 151,596 shares of the company’s stock were exchanged. Greenlight Reinsurance, Ltd. has a 52 week low of $19.25 and a 52 week high of $24.10. The firm has a market capitalization of $828.97 million, a price-to-earnings ratio of 15.91 and a beta of 0.77. The stock has a 50-day moving average price of $21.73 and a 200 day moving average price of $21.54.

Greenlight Reinsurance (NASDAQ:GLRE) last issued its earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.04. The company had revenue of $121.48 million for the quarter, compared to analyst estimates of $139.90 million. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. Equities research analysts forecast that Greenlight Reinsurance, Ltd. will post $0.75 earnings per share for the current fiscal year.

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GLRE has been the subject of several analyst reports. ValuEngine cut shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Greenlight Reinsurance from a “strong sell” rating to a “hold” rating in a research note on Monday, May 8th. BidaskClub cut shares of Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, TheStreet cut shares of Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th.

In other news, insider Sherry Diaz sold 3,055 shares of Greenlight Reinsurance stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $23.00, for a total transaction of $70,265.00. Following the completion of the transaction, the insider now owns 33,500 shares of the company’s stock, valued at approximately $770,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leonard R. Goldberg sold 1,659 shares of Greenlight Reinsurance stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total value of $37,742.25. Following the transaction, the director now directly owns 170,021 shares of the company’s stock, valued at approximately $3,867,977.75. The disclosure for this sale can be found here. Insiders have sold a total of 8,066 shares of company stock worth $181,317 over the last 90 days. Insiders own 21.81% of the company’s stock.

Greenlight Reinsurance Company Profile

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.

Institutional Ownership by Quarter for Greenlight Reinsurance (NASDAQ:GLRE)

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