Key Points
- Director Leonard Goldberg purchased 6,000 Greenlight Capital Re shares at $15.42 each, investing $92,520 and increasing his direct ownership by 20% to 36,000 shares.
- Greenlight Capital Re reported a quarterly loss of $0.89 per share, missing the $0.35 consensus loss estimate, while revenue of $137.46 million fell short of expectations of $165.31 million.
- Analysts maintain a consensus “Hold” rating, while institutional investors own 41.52% of the company; the stock recently traded at $15.42 within a 12-month range of $11.56 to $19.39.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Leonard Goldberg bought 6,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $15.42 per share, with a total value of $92,520.00. Following the completion of the purchase, the director directly owned 36,000 shares of the company's stock, valued at approximately $555,120. This trade represents a 20.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Greenlight Capital Re Stock Performance
Greenlight Capital Re stock opened at $15.42 on Wednesday. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. The company has a market capitalization of $511.48 million, a price-to-earnings ratio of 10.49 and a beta of 0.33. The firm's fifty day moving average price is $16.28 and its 200 day moving average price is $16.20.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.54). The firm had revenue of $137.46 million during the quarter, compared to analysts' expectations of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. On average, research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in shares of Greenlight Capital Re by 61.1% in the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider's stock valued at $608,000 after acquiring an additional 17,029 shares during the last quarter. Empowered Funds LLC lifted its stake in Greenlight Capital Re by 8.3% during the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider's stock worth $1,596,000 after purchasing an additional 9,066 shares during the last quarter. Jane Street Group LLC acquired a new position in Greenlight Capital Re in the first quarter worth $335,000. First Trust Advisors LP boosted its holdings in Greenlight Capital Re by 3.2% in the second quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider's stock worth $1,172,000 after purchasing an additional 2,553 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Greenlight Capital Re by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider's stock valued at $9,532,000 after purchasing an additional 2,180 shares during the last quarter. Institutional investors own 41.52% of the company's stock.
Wall Street Analysts Forecast Growth
GLRE has been the subject of a number of recent analyst reports. Zacks Research upgraded Greenlight Capital Re to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold".
Read Our Latest Report on Greenlight Capital Re
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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