Key Points
- Director Ian Isaacs sold 10,000 GLRE shares at an average price of $14.95, generating $149,500 and reducing his direct ownership by 18.82% to 43,142 shares. He has also made several additional sales since late August.
- Greenlight Capital Re shares opened at $14.75, near the lower end of their 52-week range, while the company’s latest quarterly results missed expectations: a loss of $0.89 per share versus the $0.35 expected and revenue of $137.46 million versus $165.31 million projected.
- Analyst sentiment is currently cautious, with two analysts rating the stock Hold; institutional investors and hedge funds own 41.52% of the company.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 5,150 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $14.90, for a total transaction of $76,735.00. Following the sale, the director owned 37,992 shares in the company, valued at approximately $566,080.80. This trade represents a 11.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Ian Isaacs also recently made the following trade(s):
- On Friday, September 25th, Ian Isaacs sold 10,000 shares of Greenlight Capital Re stock. The stock was sold at an average price of $14.95, for a total transaction of $149,500.00.
- On Monday, September 14th, Ian Isaacs sold 4,850 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.13, for a total value of $73,380.50.
- On Friday, August 28th, Ian Isaacs sold 4,054 shares of Greenlight Capital Re stock. The shares were 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 stock was sold at an average price of $15.43, for a total value of $14,596.78.
Greenlight Capital Re Trading Down 0.4%
Shares of NASDAQ GLRE opened at $14.75 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 market cap of $481.44 million, a price-to-earnings ratio of 10.03 and a beta of 0.32. 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's 50 day simple moving average is $15.58 and its 200 day simple moving average is $16.48.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) EPS 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 for the quarter, compared to the consensus estimate of $165.31 million. Equities research analysts expect that Greenlight Capital Re, Ltd. will post 1.25 EPS for the current year.
Wall Street Analysts Forecast Growth
GLRE has been the subject of several recent research reports. Weiss Ratings lowered 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 downgraded shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".
Read Our Latest Analysis on Greenlight Capital Re
Institutional Trading of Greenlight Capital Re
Several large investors have recently added to or reduced their stakes in GLRE. Renaissance Technologies LLC acquired a new position in Greenlight Capital Re during the 1st quarter worth $1,343,000. Private Management Group Inc. increased its holdings in shares of 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 period. Hsbc Holdings PLC bought a new stake in shares of Greenlight Capital Re during the first quarter valued at about $813,000. Hillsdale Investment Management Inc. bought a new stake in shares of Greenlight Capital Re during the first quarter valued at about $1,117,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Greenlight Capital Re by 64.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider's stock worth $2,210,000 after purchasing an additional 50,099 shares during the period. 41.52% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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