Greenlight Capital Re (NASDAQ:GLRE) Director Sells $425,270.13 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 23,613 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total transaction of $425,270.13. Following the transaction, the director owned 11,747 shares in the company, valued at $211,563.47. The trade was a 66.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Greenlight Capital Re Stock Down 2.4%

Shares of NASDAQ GLRE opened at $17.19 on Friday. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. 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 firm’s 50 day simple moving average is $17.64 and its two-hundred day simple moving average is $15.14. The stock has a market capitalization of $570.19 million, a P/E ratio of 7.25 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Greenlight Capital Re

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Greenlight Capital Re by 3,773.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,698 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Greenlight Capital Re by 7,213.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 3,174 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,627 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Greenlight Capital Re by 184.6% during the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,749 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,296 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.