Key Points
- Greenlight Capital Re General Counsel David Sigmon sold 7,500 shares on May 14 at an average price of $17.33, totaling about $129,975. The sale reduced his ownership by 18.67% and was made to cover tax withholding tied to vested equity awards.
- GLRE shares were trading at $17.52, near their 52-week high of $19.39 and well above the 200-day moving average of $14.95. The company has a market cap of about $581 million and a low debt-to-equity ratio of 0.01.
- Recent earnings were mixed: Greenlight Capital Re reported $1.05 EPS, missing estimates of $1.25, but revenue came in above expectations at $189.66 million. Analysts currently have an average rating of Buy on the stock.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) General Counsel David Sigmon sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $17.33, for a total transaction of $129,975.00. Following the sale, the general counsel owned 32,678 shares in the company, valued at $566,309.74. The trade was a 18.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Greenlight Capital Re Stock Performance
Shares of GLRE stock opened at $17.52 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $581.14 million, a P/E ratio of 7.39 and a beta of 0.38. The firm's 50 day moving average is $17.32 and its 200 day moving average is $14.95.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) 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 analysts' expectations of $160.88 million.
Analyst Upgrades and Downgrades
Several analysts have issued reports 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 cut 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, According to MarketBeat, the company currently has an average rating of "Buy".
Read Our Latest Report on Greenlight Capital Re
Hedge Funds Weigh In On Greenlight Capital Re
Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider's stock worth $30,000 after buying an additional 1,698 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider's stock worth $47,000 after buying an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock worth $49,000 after buying an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider's stock worth $54,000 after buying an additional 2,749 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider's stock worth $145,000 after buying an additional 1,296 shares during the last quarter. Institutional investors own 41.52% of the company's stock.
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
