Key Points
- Greenlight Capital Re director Joseph Platt, Jr. sold 23,613 shares on May 19 at an average price of $18.01, totaling about $425,270. After the sale, he retained 11,747 shares, cutting his stake by 66.78%.
- The company’s stock opened at $17.71 and has traded between a 52-week low of $11.56 and high of $19.39. Greenlight Capital Re currently has a market cap of about $587.44 million and a low debt-to-equity ratio of 0.01.
- In its latest quarterly report, Greenlight Capital Re missed earnings expectations, posting $1.05 EPS versus the $1.25 consensus, though revenue came in above forecasts at $189.66 million. Analyst sentiment remains mixed, with one recent downgrade but a consensus rating of Buy.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Joseph Platt, Jr. sold 23,613 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total value of $425,270.13. Following the sale, the director owned 11,747 shares in the company, valued at $211,563.47. The trade was a 66.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Greenlight Capital Re Stock Performance
NASDAQ:GLRE opened at $17.71 on Thursday. The stock's fifty day moving average is $17.54 and its 200 day moving average is $15.09. Greenlight Capital Re, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The firm has a market capitalization of $587.44 million, a PE ratio of 7.47 and a beta of 0.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last released its quarterly 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). The company had revenue of $189.66 million for the quarter, compared to analysts' expectations of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%.
Hedge Funds Weigh In On Greenlight Capital Re
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its position in shares of 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 worth $145,000 after buying an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Greenlight Capital Re by 4.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider's stock worth $441,000 after buying an additional 1,429 shares in the last quarter. Bank of America Corp DE grew its position in shares of Greenlight Capital Re by 3.8% during the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider's stock worth $564,000 after buying an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of 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 worth $49,000 after buying an additional 1,627 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 worth $30,000 after buying an additional 1,698 shares in the last quarter. Institutional investors own 41.52% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. Wall Street Zen downgraded Greenlight Capital Re from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a research report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".
Check Out Our Latest Research Report on GLRE
Greenlight Capital Re Company Profile
(
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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