Joseph Platt, Jr. Sells 6,820 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 6,820 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $17.50, for a total transaction of $119,350.00. Following the transaction, the director owned 48,180 shares of the company’s stock, valued at approximately $843,150. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Greenlight Capital Re Trading Up 1.0%

NASDAQ GLRE opened at $17.52 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The firm has a market cap of $581.14 million, a PE ratio of 7.39 and a beta of 0.38. The company has a 50 day moving average price of $17.32 and a 200 day moving average price of $14.95. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20). The firm had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Analysts Set New Price Targets

Several research analysts recently commented on GLRE shares. Weiss Ratings upgraded shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Management Group Inc. raised its holdings in shares of Greenlight Capital Re by 25.6% in the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after buying an additional 306,468 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of 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 raised its holdings in shares of 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. raised its holdings in shares of 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 stake in shares of 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 acquiring an additional 13,430 shares during the period. Hedge funds and other institutional investors own 41.52% of the company’s stock.

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.