Key Points
- Director Ian Isaacs sold 4,000 shares of Greenlight Capital Re on June 25 at an average price of $16.06, bringing in $64,240 and reducing his ownership by 7.25%.
- Isaacs also sold shares on three prior trading days, including 5,000 shares on June 24 and 9,230 shares on June 23, indicating a recent pattern of insider selling.
- Greenlight Capital Re reported mixed quarterly results, missing EPS expectations but beating revenue estimates, while analysts currently rate the stock a Moderate Buy.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00. Following the completion of the transaction, the director directly owned 51,191 shares of the company's stock, valued at approximately $822,127.46. This trade represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Ian Isaacs also recently made the following trade(s):
- On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.64, for a total transaction of $83,200.00.
- On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.33, for a total transaction of $150,725.90.
- On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.92, for a total value of $27,318.72.
Greenlight Capital Re Price Performance
Shares of NASDAQ GLRE opened at $16.73 on Friday. 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, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The stock has a market cap of $554.93 million, a PE ratio of 7.06 and a beta of 0.33. The stock has a fifty day moving average of $17.00 and a 200-day moving average of $15.65.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $189.66 million for the quarter, compared to analysts' expectations of $160.88 million. Equities research analysts anticipate 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 bought and sold shares of the stock. Private Management Group Inc. lifted its position in Greenlight Capital Re by 25.6% during the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider's stock valued at $21,903,000 after purchasing an additional 306,468 shares during the last quarter. Pinnacle Associates Ltd. purchased a new stake in shares of Greenlight Capital Re during the 4th quarter valued at $2,480,000. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Greenlight Capital Re during the 4th quarter worth $2,479,000. Millennium Management LLC grew its position in Greenlight Capital Re by 546.5% in the fourth quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider's stock worth $2,906,000 after acquiring an additional 168,486 shares in the last quarter. Finally, HRT Financial LP raised its position in Greenlight Capital Re by 459.1% during the fourth quarter. HRT Financial LP now owns 118,654 shares of the financial services provider's stock valued at $1,729,000 after purchasing an additional 97,433 shares in the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GLRE. Wall Street Zen lowered shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Zacks Research raised shares of Greenlight Capital Re to a "hold" rating in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded shares of Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".
Get Our Latest Stock Report on GLRE
Greenlight Capital Re Company Profile
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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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