David Sigmon Sells 7,500 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) General Counsel David Sigmon sold 7,500 shares of Greenlight Capital Re stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total transaction of $129,975.00. Following the transaction, the general counsel directly owned 32,678 shares in the company, valued at $566,309.74. This represents a 18.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Price Performance

GLRE opened at $17.52 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market capitalization of $581.07 million, a price-to-earnings ratio of 7.39 and a beta of 0.38. The firm’s fifty day moving average price is $17.32 and its two-hundred day moving average price is $14.95. Greenlight Capital Re, Ltd. has a 1 year low of $11.56 and a 1 year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The firm had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds have recently made changes to their positions in the business. Private Management Group Inc. raised its stake in shares of Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after purchasing an additional 306,468 shares during the period. Vanguard Group Inc. increased its position in Greenlight Capital Re by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock worth $18,667,000 after buying an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC increased its position in Greenlight Capital Re by 6.9% in the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after buying an additional 62,707 shares during the last quarter. Ameriprise Financial Inc. increased its position in Greenlight Capital Re by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after buying an additional 2,180 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Greenlight Capital Re by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock worth $4,963,000 after buying an additional 13,430 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLRE. Wall Street Zen downgraded shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

About Greenlight Capital Re

Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.

The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.