Greenlight Capital Re (NASDAQ:GLRE) Director Sells $14,350.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 820 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $17.50, for a total value of $14,350.00. Following the completion of the sale, the director owned 47,360 shares of the company’s stock, valued at $828,800. The trade was a 1.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Greenlight Capital Re Stock Up 1.0%

Shares of NASDAQ GLRE opened at $17.52 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The firm has a market capitalization of $581.07 million, a price-to-earnings ratio of 7.39 and a beta of 0.38. The stock 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 announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%.

Institutional Trading of Greenlight Capital Re

Several hedge funds and other institutional investors have recently made changes to their positions in GLRE. AQR Capital Management LLC lifted its holdings in shares of Greenlight Capital Re by 61.1% during the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 17,029 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Greenlight Capital Re by 8.3% during the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after purchasing an additional 9,066 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Greenlight Capital Re during the 1st quarter valued at $335,000. First Trust Advisors LP lifted its holdings in shares of Greenlight Capital Re by 3.2% during the 2nd quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 2,553 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after purchasing an additional 2,180 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.