Key Points
- Director Ian Isaacs sold 4,850 Greenlight Capital Re shares at an average price of $15.13, generating $73,380.50 and reducing his direct stake by 8.36% to 53,142 shares.
- Greenlight Capital Re’s latest quarterly results fell short of expectations, with an adjusted loss of $0.89 per share versus the expected $0.35 loss and revenue of $137.46 million versus the $165.31 million consensus.
- Analysts maintain a consensus “Hold” rating, while institutional investors own 41.52% of the company; GLRE recently traded near $15.12, well below its 52-week high of $19.39.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 4,850 shares of the business's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $15.13, for a total value of $73,380.50. Following the completion of the transaction, the director directly owned 53,142 shares in the company, valued at approximately $804,038.46. This represents a 8.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Ian Isaacs also recently made the following trade(s):
- On Friday, August 28th, Ian Isaacs sold 4,054 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.42, for a total value of $62,512.68.
- On Thursday, August 27th, Ian Isaacs sold 946 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.43, for a total value of $14,596.78.
- On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.06, for a total value of $64,240.00.
- On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The stock was 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 stock was 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 transaction of $27,318.72.
Greenlight Capital Re Trading Up 0.1%
GLRE opened at $15.12 on Thursday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $493.52 million, a PE ratio of 10.29 and a beta of 0.32. Greenlight Capital Re, Ltd. has a 1-year low of $11.56 and a 1-year high of $19.39. The firm has a 50-day moving average price of $15.89 and a two-hundred day moving average price of $16.45.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last announced its earnings results 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). Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.The company had revenue of $137.46 million during the quarter, compared to the consensus estimate of $165.31 million. As a group, equities analysts anticipate that Greenlight Capital Re, Ltd. will post 1.25 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position 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 valued at $30,000 after purchasing an additional 1,698 shares during the last quarter. Engineers Gate Manager LP grew its stake in Greenlight Capital Re by 9.1% in the second quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 1,705 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Greenlight Capital Re by 14.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider's stock worth $310,000 after purchasing an additional 2,309 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Greenlight Capital Re by 10.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider's stock worth $1,019,000 after purchasing an additional 6,178 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider's stock worth $1,523,000 after purchasing an additional 11,416 shares in the last quarter. Institutional investors own 41.52% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on GLRE. Weiss Ratings cut shares of Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Wall Street Zen cut Greenlight Capital Re from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. Finally, Zacks Research raised Greenlight Capital Re to a "hold" rating in a research note on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".
Get Our Latest Analysis on Greenlight Capital Re
About Greenlight Capital Re
(
Get Free Report)
Greenlight Capital Re, Ltd. is a specialty property and casualty reinsurance company headquartered in the Cayman Islands. Through its operating subsidiaries, the company provides reinsurance capacity to insurance companies and other risk-bearing organizations, helping them manage and transfer portions of their underwriting exposure.
Its business has included customized reinsurance arrangements across property, casualty and specialty lines. These arrangements may include quota-share and excess-of-loss structures, allowing clients to address specific risks, expand underwriting capacity or manage the volatility of their insurance portfolios.
Founded in 2004, Greenlight Capital Re has operated through entities in the Cayman Islands and Ireland and has served clients in multiple international insurance markets.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
