Key Points
- Insider purchase: Director Ursuline Foley bought 5,000 shares at an average price of $12.92 on Nov. 20, boosting her holdings 10.18% to 54,100 shares (about $698,972) in a transaction disclosed to the SEC.
- Shares jumped about 3.2% to $13.00 on higher-than-average volume; the stock has a market cap of $443.3M, a P/E of 12.15, and sits near its 50- and 200-day moving averages.
- The company missed earnings, reporting ($0.13) per share for the most recent quarter versus $0.10 expected on $184.4M revenue, and roughly 41.5% of the stock is held by hedge funds and institutional investors who have recently increased positions (notably Invesco).
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ursuline Foley acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average price of $12.92 per share, with a total value of $64,600.00. Following the acquisition, the director owned 54,100 shares in the company, valued at $698,972. This trade represents a 10.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Greenlight Capital Re Trading Up 3.2%
Greenlight Capital Re stock traded up $0.40 during mid-day trading on Friday, hitting $13.00. The company's stock had a trading volume of 173,483 shares, compared to its average volume of 116,771. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.83 and a current ratio of 2.83. The company has a 50 day moving average of $12.60 and a 200-day moving average of $13.22. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $15.38. The stock has a market cap of $443.29 million, a PE ratio of 12.15 and a beta of 0.60.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its earnings results on Monday, November 3rd. The financial services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.23). The company had revenue of $184.38 million for the quarter. Greenlight Capital Re had a net margin of 5.37% and a return on equity of 5.75%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings restated a "hold (c-)" rating on shares of Greenlight Capital Re in a research note on Wednesday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".
Read Our Latest Report on GLRE
Institutional Trading of Greenlight Capital Re
A number of hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. grew its holdings in Greenlight Capital Re by 11.2% during the 1st quarter. Private Management Group Inc. now owns 1,034,365 shares of the financial services provider's stock worth $14,016,000 after acquiring an additional 103,886 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Greenlight Capital Re by 82.1% in the 1st quarter. GSA Capital Partners LLP now owns 81,314 shares of the financial services provider's stock worth $1,102,000 after purchasing an additional 36,670 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Greenlight Capital Re by 19.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 33,779 shares of the financial services provider's stock worth $458,000 after purchasing an additional 5,416 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Greenlight Capital Re by 106.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,245 shares of the financial services provider's stock valued at $735,000 after purchasing an additional 28,028 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Greenlight Capital Re by 284.9% during the first quarter. Invesco Ltd. now owns 233,227 shares of the financial services provider's stock valued at $3,160,000 after buying an additional 172,639 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.
About Greenlight Capital Re
(
Get Free Report)
Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.
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