Key Points
- Greenlight Capital Re director Joseph Platt, Jr. sold 6,820 shares on May 12 at an average price of $17.50, for proceeds of about $119,350. The sale reduced his direct stake by 12.4% to 48,180 shares.
- GLRE recently reported mixed quarterly results, missing earnings expectations with EPS of $1.05 versus the $1.25 consensus, even as revenue of $189.66 million topped estimates. The company posted a net margin of 11.47% and return on equity of 11.69%.
- Despite the insider sale, the stock has remained relatively stable, opening at $17.34 and trading near its 50-day average, with a market cap of $575.17 million and a low debt-to-equity ratio of 0.01. Analyst sentiment is still generally positive, with a consensus rating of “Buy.”
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Joseph Platt, Jr. sold 820 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $17.50, for a total value of $14,350.00. Following the completion of the transaction, the director directly owned 47,360 shares in the company, valued at approximately $828,800. The trade was a 1.70% 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 hyperlink.
Greenlight Capital Re Stock Performance
Shares of GLRE stock opened at $17.34 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. Greenlight Capital Re, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The stock's 50-day moving average is $17.26 and its two-hundred day moving average is $14.93. The firm has a market cap of $575.17 million, a P/E ratio of 7.32 and a beta of 0.38.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.The firm had revenue of $189.66 million during the quarter, compared to analyst estimates of $160.88 million.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in GLRE. PNC Financial Services Group Inc. boosted its stake in Greenlight Capital Re by 3,773.3% during the 1st 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 Greenlight Capital Re by 7,213.6% during the 4th 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 Greenlight Capital Re by 90.2% during the 2nd 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 Greenlight Capital Re by 184.6% during the 3rd 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 Greenlight Capital Re by 12.8% during the 3rd 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. Institutional investors and hedge funds own 41.52% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GLRE. Wall Street Zen lowered Greenlight Capital Re from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Greenlight Capital Re currently has a consensus rating of "Buy".
Get Our Latest Stock Analysis on GLRE
About Greenlight Capital Re
(
Get Free Report)
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.
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