Key Points
- Greenlight Capital Re COO Patrick O'Brien sold 3,026 shares on June 23 at an average price of $16.36, totaling about $49,505. The sale reduced his ownership by 1.43% and was made to cover tax withholding tied to vested equity awards.
- The stock opened at $16.08 and has traded between a 12-month low of $11.56 and high of $19.39. The company currently has a market cap of about $533.3 million and a low debt-to-equity ratio of 0.01.
- Greenlight Capital Re recently missed earnings expectations, posting EPS of $1.05 versus estimates of $1.25, though revenue came in above forecasts. Analyst sentiment is mixed, with a consensus rating of Moderate Buy.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) COO Patrick O'brien sold 3,026 shares of the company's stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total value of $49,505.36. Following the completion of the sale, the chief operating officer directly owned 208,633 shares of the company's stock, valued at approximately $3,413,235.88. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Price Performance
Shares of GLRE stock opened at $16.08 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The firm has a fifty day moving average of $17.03 and a 200-day moving average of $15.64. The firm has a market capitalization of $533.31 million, a price-to-earnings ratio of 6.78 and a beta of 0.33.
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 analysts' consensus estimates 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 business had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. On average, equities research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.
Institutional Investors Weigh In On Greenlight Capital Re
Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in Greenlight Capital Re by 3,773.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider's stock worth $30,000 after purchasing an additional 1,698 shares during the period. Quadrant Capital Group LLC raised its stake in Greenlight Capital Re by 7,213.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider's stock valued at $47,000 after buying an additional 3,174 shares during the period. Tower Research Capital LLC TRC raised its stake in Greenlight Capital Re by 90.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock valued at $49,000 after buying an additional 1,627 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Greenlight Capital Re by 184.6% in the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider's stock valued at $54,000 after buying an additional 2,749 shares during the last quarter. Finally, Bfsg LLC lifted its position in shares of Greenlight Capital Re by 31.8% in the fourth quarter. Bfsg LLC now owns 11,940 shares of the financial services provider's stock valued at $174,000 after buying an additional 2,880 shares during the last quarter. 41.52% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
GLRE has been the topic of a number of recent research reports. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a research report on Tuesday, March 17th. Zacks Research raised Greenlight Capital Re to a "hold" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".
View Our Latest Report 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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