First Trust Advisors LP Invests $501,000 in Greenlight Reinsurance, Ltd. (GLRE) Stock

First Trust Advisors LP acquired a new position in shares of Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,147 shares of the financial services provider’s stock, valued at approximately $501,000. First Trust Advisors LP owned about 0.06% of Greenlight Reinsurance at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nationwide Fund Advisors grew its stake in Greenlight Reinsurance by 72.0% during the 2nd quarter. Nationwide Fund Advisors now owns 38,808 shares of the financial services provider’s stock worth $811,000 after buying an additional 16,240 shares during the last quarter. Teachers Advisors LLC grew its stake in Greenlight Reinsurance by 10.4% during the 1st quarter. Teachers Advisors LLC now owns 55,492 shares of the financial services provider’s stock worth $1,226,000 after buying an additional 5,238 shares during the last quarter. Southeast Asset Advisors Inc. grew its stake in Greenlight Reinsurance by 2.6% during the 2nd quarter. Southeast Asset Advisors Inc. now owns 209,885 shares of the financial services provider’s stock worth $4,387,000 after buying an additional 5,300 shares during the last quarter. GSA Capital Partners LLP grew its stake in Greenlight Reinsurance by 27.1% during the 2nd quarter. GSA Capital Partners LLP now owns 32,162 shares of the financial services provider’s stock worth $672,000 after buying an additional 6,862 shares during the last quarter. Finally, Fiduciary Management Inc. WI grew its stake in Greenlight Reinsurance by 0.6% during the 2nd quarter. Fiduciary Management Inc. WI now owns 2,065,537 shares of the financial services provider’s stock worth $43,170,000 after buying an additional 11,692 shares during the last quarter. Hedge funds and other institutional investors own 46.96% of the company’s stock.

Greenlight Reinsurance, Ltd. (GLRE) opened at $20.90 on Friday. Greenlight Reinsurance, Ltd. has a 12-month low of $19.70 and a 12-month high of $24.10. The stock has a market capitalization of $780.55, a price-to-earnings ratio of 19.00 and a beta of 0.77.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, October 30th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.26). Greenlight Reinsurance had a return on equity of 4.74% and a net margin of 5.91%. The business had revenue of $236.15 million for the quarter, compared to analyst estimates of $200.80 million. research analysts expect that Greenlight Reinsurance, Ltd. will post -0.95 earnings per share for the current year.

A number of research analysts recently commented on the company. ValuEngine downgraded Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, November 28th. Finally, TheStreet upgraded Greenlight Reinsurance from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st.

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Greenlight Reinsurance 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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