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$7.01 $0.01 (14.3%)

12:00 PM EDT on 10/23/20

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)

CAPS Rating: 3 out of 5

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

Current Price $7.01 Mkt Cap $249.7M
Open $7.04 P/E Ratio 0.00
Prev. Close $6.89 Div. (Yield) $0.00 (0.0%)
Daily Range $6.98 - $7.13 Volume 78,756
52-Wk Range $5.00 - $11.26 Avg. Daily Vol. 107,930

Caps

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

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All Players

226 Outperform
7 Underperform
 

All-Star Players

23 Outperform
2 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.

FVelociraptor (99.54)
Submitted March 30, 2015

Einhorn sans 2/20

Covestor (76.60)
Submitted March 14, 2011

Covestor Model Manager Lucas Krupinski sold GLRE in his Small Cap Fundamentals Covestor Model ( http://covestor.com/Lucas-Krupinski )

NASDAQ:GLRE VS S&P 500 (SPY)

Recent Community Commentary

Read the most recent pitches from players about GLRE.

Recs

0
Member Avatar XMFRendezvous (91.73) Submitted: 1/10/2020 5:37:07 PM : Outperform Start Price: $8.29 NASDAQ:GLRE Score: -33.03

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.

Recs

1
Member Avatar FVelociraptor (99.54) Submitted: 3/30/2015 10:09:09 AM : Outperform Start Price: $32.35 NASDAQ:GLRE Score: -141.91

Einhorn sans 2/20

Recs

1
Member Avatar Chemdawg (34.36) Submitted: 3/3/2015 4:57:21 PM : Outperform Start Price: $32.65 NASDAQ:GLRE Score: -140.17

you get Einhorn at a substantial discount

Leaderboard

Find the members with the highest scoring picks in GLRE.

Score Leader

UV2OF

UV2OF (96.86) Score: +395.35

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

Top
Pick
Member Name Member
Rating
Start
Date
Call Time
Frame
Start
Price
Stock
Gain
Index
Gain
Score Commentary
UV2OF 96.86 2/20/2009 Underperform 1Y $12.56 -45.06% +350.28% +395.35 0 Comment
accuro < 20 2/3/2009 Underperform NS $12.02 -42.60% +315.61% +358.20 1 Comment
Covestor 76.60 3/14/2011 Underperform NS $25.90 -73.36% +161.57% +234.93 2 Comments
robslap1 56.62 9/27/2012 Underperform 5Y $24.84 -72.22% +136.11% +208.33 0 Comment
zanzibi 37.33 6/1/2007 Underperform 3M $23.67 -70.85% +133.18% +204.03 0 Comment
ssinvplace 64.52 2/19/2019 Underperform 3M $11.40 -39.47% +22.75% +62.23 0 Comment
TheSlightEdge 99.15 9/19/2019 Underperform 5Y $10.59 -34.83% +12.42% +47.25 0 Comment
Under5 49.57 4/22/2020 Outperform 5Y $6.34 +8.83% +22.18% -13.34 0 Comment
XMFRendezvous 91.73 6/27/2019 Outperform 5Y $8.29 -16.77% +16.27% -33.03 1 Comment
This player feels very strongly about this pick and has marked it a Top Pick. Top Picks do not affect a player’s score. kingmax48 59.31 7/9/2019 Outperform 5Y $8.51 -18.92% +14.84% -33.76 0 Comment

Wall Street

See what the Wall Street professionals think, according to their public statements and filings.

There are no Wall Street tracker picks for GLRE.