CWA Asset Management Group LLC Acquires Stake in Greenlight Capital Re, Ltd.

CWA Asset Management Group LLC has invested in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) during the third quarter, based on its latest 13F filing with the Securities and Exchange Commission. The firm purchased 364,269 shares of this financial services provider, valued at around $4,972,000. Following this acquisition, CWA Asset Management Group LLC now owns approximately 1.03% of Greenlight Capital Re.

Additionally, several other institutional investors and hedge funds have been active in buying and selling shares of GLRE. For example, Private Management Group Inc. increased its holdings by 69.0% in the first quarter, acquiring a total of 452,313 shares now worth $5,640,000 after an addition of 184,620 shares recently. Vanguard Group Inc. also slightly raised its investment in the same period, now possessing 1,343,464 shares valued at $16,753,000 after acquiring an additional 8,489 shares.

Furthermore, Dimensional Fund Advisors LP increased its stake by 2.4% in the second quarter, now owning 2,040,466 shares worth $26,730,000 after a purchase of 48,317 shares. Meanwhile, Bank of Montreal Can established a new position in Greenlight Capital Re valued at about $894,000 during the second quarter. BNP Paribas Financial Markets increased its stake by 2.9% to own 51,052 shares, which are now worth $637,000 after acquiring an additional 1,418 shares. Altogether, institutional investors manage 41.52% of Greenlight Capital Re's stock.

Positive Analyst Ratings

In recent developments, StockNews.com upgraded Greenlight Capital Re’s shares from a "hold" rating to a "buy" rating, indicating optimism regarding the stock's future performance.

Insider Transactions

In related news involving insiders, Director Ian Isaacs sold 7,159 shares on September 27th, receiving an average price of $13.81 per share, totaling approximately $98,865.79. Following this transaction, Isaacs holds 86,984 shares valued at around $1,201,249.04, reflecting no significant change in his overall position. This insider transaction was filed with the Securities and Exchange Commission and is available for public access. Corporate insiders collectively own 22.79% of the company's stock.

Market Performance of Greenlight Capital Re

As of Friday, shares of GLRE opened at $14.76. The company has a market capitalization of $521.32 million, a price-to-earnings ratio of 5.86, and a beta of 0.85. The stock has fluctuated between a 52-week low of $10.49 and a high of $15.82, with its 50-day moving average at $13.80 and a 200-day moving average at $13.27. Financial indicators show a quick ratio of 3.00, a current ratio of 3.02, and a debt-to-equity ratio of 0.09.

Recently, Greenlight Capital Re reported its quarterly earnings on November 4th, achieving an EPS of $1.01 for the quarter, surpassing the expected estimate of $0.65 by $0.36. Revenue for the quarter totaled $188.01 million. The company displayed a return on equity of 13.95% and a net margin of 12.38%. Compared to the same period last year, where the firm posted an EPS of $0.39, this represents significant growth.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. operates as a global property and casualty reinsurance company through its various subsidiaries. The company offers a range of property reinsurance products, including coverage for automobiles, personal, and commercial lines. In addition, it provides casualty reinsurance products which include general and motor liability, professional liability, and workers' compensation, among others. The company also deals in specialty reinsurance products like aviation, terrorism-related coverage, and others.

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