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$12.50 $0.38 (3.1%)

04:00 PM EST on 02/27/24

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

CAPS Rating: No stars

The Company is a specialty property and casualty reinsurer, which operates business through its one operating segment, property and casualty reinsurance.

Current Price $12.50 Mkt Cap $441.7M
Open $12.18 P/E Ratio 4.52
Prev. Close $12.50 Div. (Yield) $0.00 (0.0%)
Daily Range $12.13 - $12.58 Volume 179,276
52-Wk Range $9.07 - $12.58 Avg. Daily Vol. 83,157


How do you think NASDAQ:GLRE will perform against the market?

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All Players

218 Outperform
7 Underperform

All-Star Players

31 Outperform
1 Underperform

Wall Street

0 Outperform
0 Underperform

Top NASDAQ:GLRE Bull/Bear Pitches

The best Bull and Bear pitches based on recency and number of recommendations.

Chemdawg (55.08)
Submitted March 03, 2015

you get Einhorn at a substantial discount

Covestor (65.71)
Submitted March 14, 2011

Covestor Model Manager Lucas Krupinski sold GLRE in his Small Cap Fundamentals Covestor Model ( )

Recent Community Commentary

Read the most recent pitches from players about GLRE.


Member Avatar XMFRendezvous (91.78) Submitted: 1/10/2020 5:37:07 PM : Outperform Start Price: $8.29 NASDAQ:GLRE Score: -22.88

Greenlight Capital Reinsurance is the offshore public vehicle of Greenlight Capital. These vehicles are intended to produce a source of more permanent and consistent cash that funds can use to then invest as part of their fund. While unconventional, and admittedly seemingly a little sketchy, this strategy to create float using insurance premiums has been used for years by the likes of Warren Buffet and is not so much unlike a company like Markel, a Fool favorite (to be clear... you are paying 1.5/20 mgmt fees on the Float GLRE produces). I think there is more difference in structure then there is in strategy. Unlike Berkshire and Markel, which have traditionally earned a premium to book value, Greenlight Reinsurance trades at a 25% discount to book value which I find intriguing.

Investment Thesis:
• Trading .72X book value Greenlight reinsurance appears to be fundamentally undervalued unless one believes the investment portfolio of Greenlight Capital will continue to underperform the market
• Greenlight Capital runs a value-oriented strategy, which has broadly underperformed the market. One would expect mean reversion of value strategies to eventually market perform.
• David Einhorn owns 16% of the company, which is the most among hedge fund managers I found to also have public vehicles.

My bet is that Greenlight reverts to the mean, or even a little below, in that case the stock has pretty decent upside. Because of the discount, you get $1.3 dollars invested in Greenlight for ever $1, so you are essentially getting your fees back plus getting paid a little bit to own part of the Greenlight portfolio. I have no stance on if Einhorn will outperform, but if he does there is huge upside.

This is a risk however, the reinsurance business is facing pressure because of the poor performance of the fund, if they fail to underwrite well ,the stock has even more downside than they have currently experienced.


Member Avatar Chemdawg (55.08) Submitted: 3/3/2015 4:57:21 PM : Outperform Start Price: $32.65 NASDAQ:GLRE Score: -202.65

you get Einhorn at a substantial discount


Member Avatar tvaluehold (39.96) Submitted: 9/23/2014 11:15:49 PM : Outperform Start Price: $33.00 NASDAQ:GLRE Score: -218.09

peg min


Find the members with the highest scoring picks in GLRE.

Score Leader


UV2OF (71.08) Score: +573.04

The Score Leader is the player with the highest score across all their picks in GLRE.

Member Name Member
Call Time
Score Commentary
UV2OF 71.08 2/20/2009 Underperform 1Y $12.56 -0.48% +572.57% +573.04 0 Comment
accuro < 20 2/3/2009 Underperform NS $12.02 +3.99% +520.77% +516.78 1 Comment
Covestor 65.71 3/14/2011 Underperform NS $25.90 -51.74% +290.70% +342.43 2 Comments
robslap1 67.30 9/27/2012 Underperform 5Y $24.84 -49.67% +252.67% +302.34 0 Comment
zanzibi 52.94 6/1/2007 Underperform 3M $23.67 -47.19% +248.28% +295.47 0 Comment
ssinvplace 40.98 2/19/2019 Underperform 3M $11.40 +9.65% +83.35% +73.70 0 Comment
TheSlightEdge 98.69 9/19/2019 Underperform 5Y $10.59 +18.06% +67.91% +49.85 0 Comment
Under5 64.18 4/22/2020 Outperform 5Y $6.34 +97.16% +82.49% +14.67 0 Comment
XMFRendezvous 91.78 6/27/2019 Outperform 5Y $8.29 +50.78% +73.66% -22.88 1 Comment
echristn 45.32 10/12/2018 Outperform 5Y $13.14 -4.87% +83.16% -88.03 0 Comment

Wall Street

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