Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Stock Position in Greenlight Capital Re, Ltd. $GLRE

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 12.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 38,097 shares of the financial services provider’s stock after purchasing an additional 4,318 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Greenlight Capital Re were worth $547,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GLRE. CWA Asset Management Group LLC grew its position in shares of Greenlight Capital Re by 27.8% during the second quarter. CWA Asset Management Group LLC now owns 865,797 shares of the financial services provider’s stock worth $12,442,000 after buying an additional 188,231 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Greenlight Capital Re in the second quarter worth approximately $964,000. Jane Street Group LLC acquired a new position in Greenlight Capital Re during the 1st quarter worth approximately $335,000. Empowered Funds LLC increased its position in shares of Greenlight Capital Re by 8.3% in the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after purchasing an additional 9,066 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Greenlight Capital Re in the 1st quarter valued at $463,000. Institutional investors and hedge funds own 41.52% of the company’s stock.

Greenlight Capital Re Stock Up 0.5%

GLRE opened at $12.58 on Monday. Greenlight Capital Re, Ltd. has a one year low of $12.14 and a one year high of $15.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $430.24 million, a P/E ratio of 11.76 and a beta of 0.60. The business’s 50-day simple moving average is $12.85 and its 200-day simple moving average is $13.40.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, August 4th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.36. The firm had revenue of $179.63 million for the quarter. Greenlight Capital Re had a return on equity of 5.75% and a net margin of 5.37%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Greenlight Capital Re in a report on Saturday, September 27th. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Insiders Place Their Bets

In related news, insider Thomas James Curnock sold 11,500 shares of the company’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $12.93, for a total value of $148,695.00. Following the completion of the sale, the insider owned 179,832 shares in the company, valued at $2,325,227.76. This represents a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ian Isaacs sold 8,393 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $12.79, for a total transaction of $107,346.47. Following the sale, the director owned 71,137 shares of the company’s stock, valued at approximately $909,842.23. This represents a 10.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 23.55% of the company’s stock.

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.