Greenlight Capital Re (NASDAQ:GLRE) Director Leonard Goldberg Buys 6,000 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Leonard Goldberg bought 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $15.62 per share, for a total transaction of $93,720.00. Following the completion of the acquisition, the director owned 30,000 shares in the company, valued at $468,600. This trade represents a 25.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Greenlight Capital Re Stock Performance

NASDAQ:GLRE opened at $15.42 on Wednesday. The stock has a 50-day simple moving average of $16.28 and a two-hundred day simple moving average of $16.20. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market capitalization of $511.48 million, a PE ratio of 10.49 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The company had revenue of $137.46 million during the quarter, compared to the consensus estimate of $165.31 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. Analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Institutional Investors Weigh In On Greenlight Capital Re

Several institutional investors and hedge funds have recently modified their holdings of GLRE. Pinnacle Associates Ltd. bought a new stake in Greenlight Capital Re in the 4th quarter valued at $2,480,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Greenlight Capital Re during the 4th quarter valued at about $2,479,000. Private Management Group Inc. boosted its holdings 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 valued at $21,903,000 after purchasing an additional 306,468 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Greenlight Capital Re during the first quarter valued at about $813,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Greenlight Capital Re during the first quarter valued at about $1,117,000. Institutional investors own 41.52% of the company’s stock.

Analysts Set New Price Targets

GLRE has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Greenlight Capital Re currently has a consensus rating of “Hold”.

Greenlight Capital Re Company Profile

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.