Price Action Report: Is Greenlight Capital Re, Ltd. a Buy? The Stock Reaches 52-Week High Today

Price Action Report: Is Greenlight Capital Re, Ltd. a Buy? The Stock Reaches 52 Week High Today

The stock of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) hit a new 52-week high and has $33.03 target or 46.00% above today’s $22.62 share price. The 8 months bullish chart indicates low risk for the $865.17 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $33.03 price target is reached, the company will be worth $397.98 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 191,884 shares traded hands or 99.59% up from the average. Greenlight Capital Re, Ltd. (NASDAQ:GLRE) has risen 1.39% since April 11, 2016 and is uptrending. It has underperformed by 4.76% the S&P500.

According to Zacks Investment Research, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share.”

Insitutional Activity: The institutional sentiment increased to 1.8 in Q2 2016. Its up 0.69, from 1.11 in 2016Q1. The ratio improved, as 5 funds sold all Greenlight Capital Re, Ltd. shares owned while 20 reduced positions. 9 funds bought stakes while 36 increased positions. They now own 15.23 million shares or 6.07% less from 16.21 million shares in 2016Q1.
Highlander Mgmt Limited Liability Company holds 0.04% of its portfolio in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) for 2,400 shares. Rhumbline Advisers last reported 34,496 shares in the company. Fiduciary Mgmt Wi holds 0.26% or 2.08M shares in its portfolio. Hsbc Hldgs Public Lc holds 0% of its portfolio in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) for 2,218 shares. The New York-based Alpine Woods Capital Investors Limited Liability Com has invested 0.02% in Greenlight Capital Re, Ltd. (NASDAQ:GLRE). Nationwide Fund Advisors last reported 22,424 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) has 0% invested in the company for 926 shares. Creative Planning last reported 40 shares in the company. Pnc Fin Services has invested 0% of its portfolio in Greenlight Capital Re, Ltd. (NASDAQ:GLRE). Menta Ltd Liability, a California-based fund reported 13,207 shares. The Massachusetts-based Weatherbie Cap Ltd Llc has invested 1.79% in Greenlight Capital Re, Ltd. (NASDAQ:GLRE). Bnp Paribas Arbitrage holds 2,198 shares or 0% of its portfolio. Northern Tru Corporation has invested 0% of its portfolio in Greenlight Capital Re, Ltd. (NASDAQ:GLRE). Royal Natl Bank Of Canada owns 234,700 shares or 0% of their US portfolio. Teacher Retirement Systems Of Texas last reported 4,303 shares in the company.

Insider Transactions: Since June 2, 2016, the stock had 0 insider buys, and 8 selling transactions for $1.93 million net activity. 5,296 shares with value of $106,608 were sold by Goldberg Leonard R on Wednesday, July 13. $257,358 worth of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was sold by Isaacs Ian on Tuesday, September 6. On Thursday, August 11 the insider Hedges Barton sold $1.02M.

More recent Greenlight Capital Re, Ltd. (NASDAQ:GLRE) news were published by: Insurancejournal.com which released: “Greenlight Capital Re Hit With AM Best Ratings Downgrade” on November 03, 2016. Also Insurancejournal.com published the news titled: “Greenlight Capital Re Reports Q2 Loss of $63M, in 5th Loss in 6 Quarters” on August 02, 2016. Marketwatch.com‘s news article titled: “Greenlight Capital Re Ltd. Cl A” with publication date: March 02, 2011 was also an interesting one.

GLRE Company Profile

Greenlight Capital Re, Ltd. (GLRE), incorporated on July 13, 2004, is a property and casualty reinsurance holding company. The Firm operates through property and casualty reinsurance segment. The Company’s underwriting activities are classified into 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 losses emanating from one event or multiple events. The Company’s subsidiaries include Greenlight Reinsurance, Ltd, (Greenlight Re), Greenlight Reinsurance Ireland, Ltd. (GRIL) and Verdant Holding Company, Ltd. (Verdant).

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