Key Points
- Director Joseph Platt, Jr. sold 12,000 shares of Greenlight Capital Re at an average price of $17.50, for a total of $210,000. After the sale, he still held 35,360 shares, cutting his position by 25.34%.
- Greenlight Capital Re stock was up about 2.3% and opened at $17.93, trading near its 50-day moving average of $17.40 and below its 12-month high of $19.39.
- The company recently reported Q1 earnings of $1.05 per share, missing estimates, though revenue of $189.66 million came in above expectations. Analysts currently have a consensus Buy rating on the stock.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Joseph Platt, Jr. sold 12,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $17.50, for a total transaction of $210,000.00. Following the completion of the sale, the director owned 35,360 shares in the company, valued at $618,800. This represents a 25.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Greenlight Capital Re Trading Up 2.3%
Shares of GLRE stock opened at $17.93 on Tuesday. 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 firm's 50 day moving average is $17.40 and its 200 day moving average is $15.01. The stock has a market capitalization of $594.74 million, a P/E ratio of 7.57 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 (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 company had revenue of $189.66 million during the quarter, compared to analysts' expectations of $160.88 million.
Analyst Ratings Changes
GLRE has been the topic of several analyst reports. 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. 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. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Greenlight Capital Re has a consensus rating of "Buy".
Read Our Latest Report on GLRE
Institutional Trading of Greenlight Capital Re
Several institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC raised its position in shares of Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider's stock valued at $3,078,000 after purchasing an additional 15,845 shares during the period. Quantinno Capital Management LP raised its position in shares of Greenlight Capital Re by 65.9% during the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider's stock valued at $891,000 after purchasing an additional 20,459 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Greenlight Capital Re during the 1st quarter valued at $1,343,000. Arrowstreet Capital Limited Partnership raised its position in shares of Greenlight Capital Re by 64.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider's stock valued at $2,210,000 after purchasing an additional 50,099 shares during the period. Finally, Inceptionr LLC bought a new stake in shares of Greenlight Capital Re during the 1st quarter valued at $369,000. 41.52% of the stock is currently owned by institutional investors.
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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