Greenlight Capital Re, Ltd. (NASDAQ:GLRE) sees strong growth in short-term interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE – Get Rating) experienced a significant increase in short-term interest during the month of April. As of April 30, there was short interest totaling 846,700 shares, an increase of 21.1% from the April 15 total of 699,100 shares. About 3.4% of the stock’s shares are sold short. Based on an average daily volume of 148,200 shares, the short interest ratio is currently 5.7 days.

Institutional investors and hedge funds have recently changed their stakes in the company. Citigroup Inc. increased its stake in Greenlight Capital Re by 110.2% in the fourth quarter. Citigroup Inc. now owns 6,584 shares of the financial services provider worth $52,000 after buying 3,452 additional shares last quarter. Banque Cantonale Vaudoise increased its stake in Greenlight Capital Re by 100.0% in the first quarter. Banque Cantonale Vaudoise now owns 8,000 shares of the financial services provider worth $57,000 after buying an additional 4,000 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Greenlight Capital Re by 57.0% in the third quarter. BNP Paribas Arbitrage SA now owns 7,964 shares of the financial services provider worth $59,000 after buying an additional 2,892 shares last quarter. The Manufacturers Life Insurance Company acquired a new stake in Greenlight Capital Re in the fourth quarter valued at approximately $87,000. Finally, Trexquant Investment LP acquired a new stake in Greenlight Capital Re in the third quarter worth approximately $90,000. 40.99% of the shares are held by institutional investors and hedge funds.

Separately, reduced shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a Thursday, April 7 research report.

Shares of GLRE traded down $0.09 during Wednesday’s trading, hitting $7.40. The company had a trading volume of 532 shares, compared to its average volume of 237,467. The company has a quick ratio of 3.41, a current ratio of 3.41 and a leverage ratio of 0.21 . The stock’s 50-day moving average is $7.05 and its two-hundred-day moving average is $7.22. The stock has a market capitalization of $250.42 million, a price/earnings ratio of 53.50 and a beta of 1.23. Greenlight Capital Re has a 52-week low of $6.51 and a 52-week high of $9.60.

Greenlight Capital Re (NASDAQ:GLRE – Get Rating) last released quarterly earnings data on Tuesday, May 3. The financial services provider reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.25 per ($0.42). Greenlight Capital Re had a return on equity of 1.15% and a net margin of 0.94%.

About Greenlight Capital Re (Get an evaluation)

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 auto bodily injury, personal insurance and commercial insurance. It also provides property and casualty reinsurance products and services including general liability, automobile liability, professional liability and workers’ compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, energy, aviation, crops, cyber, political and terrorist products.

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