Key Points
- Insider sale: Sherry Diaz sold 13,500 Greenlight Capital Re shares for approximately $203,580, reducing her holdings by 13.45% to 86,879 shares.
- Recent performance: GLRE opened at $15.03, near its 52-week range of $11.56 to $19.39. The company’s latest quarterly results missed expectations, reporting a loss of $0.89 per share versus the estimated loss of $0.35 and revenue below forecasts.
- Analyst sentiment: Analysts have generally downgraded or maintained a “Hold” rating on the stock, while institutional investors own approximately 41.52% of Greenlight Capital Re.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) insider Sherry Diaz sold 13,500 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $15.08, for a total value of $203,580.00. Following the completion of the sale, the insider owned 86,879 shares in the company, valued at approximately $1,310,135.32. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Greenlight Capital Re Trading Down 0.1%
GLRE opened at $15.03 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The stock has a market capitalization of $490.58 million, a price-to-earnings ratio of 10.22 and a beta of 0.32. 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 business has a fifty day moving average price of $15.83 and a 200 day moving average price of $16.45.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The company had revenue of $137.46 million for the quarter, compared to analysts' expectations of $165.31 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. Sell-side analysts expect that Greenlight Capital Re, Ltd. will post 1.25 earnings per share for the current fiscal year.
Institutional Trading of Greenlight Capital Re
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted 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 during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Greenlight Capital Re by 14.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider's stock valued at $310,000 after buying an additional 2,309 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of Greenlight Capital Re by 9.1% in the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider's stock valued at $331,000 after buying an additional 1,705 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Greenlight Capital Re in the 1st quarter valued at $369,000. Finally, Hsbc Holdings PLC acquired a new stake in Greenlight Capital Re during the 1st quarter worth $813,000. Institutional investors and hedge funds own 41.52% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Weiss Ratings lowered shares of Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a research note on Sunday, June 7th. Finally, Zacks Research upgraded shares of Greenlight Capital Re to a "hold" rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Greenlight Capital Re currently has an average rating of "Hold".
Check Out Our Latest Stock Analysis on Greenlight Capital Re
Greenlight Capital Re Company Profile
(
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.
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