Key Points
- Insider Richard Paul Strommer sold 25,000 shares for $410,000 at an average price of $16.40, reducing his position by 34.41% to 47,648 shares.
- Greenlight Capital Re reported quarterly earnings of $0.10 per share, beating analyst expectations of a $0.25 loss; revenue was $148.29 million.
- Analyst views improved, with one firm upgrading the stock to Buy and another to Hold; MarketBeat’s consensus rating is Moderate Buy.
Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) insider Richard Paul Strommer sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the insider directly owned 47,648 shares in the company, valued at approximately $781,427.20. The trade was a 34.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Greenlight Capital Re Stock Performance
Shares of Greenlight Capital Re stock opened at $16.08 on Friday. The firm has a market cap of $524.85 million, a P/E ratio of 9.46 and a beta of 0.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. Greenlight Capital Re, Ltd. has a fifty-two week low of $12.43 and a fifty-two week high of $19.39. The firm has a 50 day simple moving average of $15.05 and a 200 day simple moving average of $15.85.
Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last announced its earnings results on Monday, November 2nd. The financial services provider reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of ($0.25) by $0.35. The business had revenue of $148.29 million during the quarter. Greenlight Capital Re had a net margin of 8.56% and a return on equity of 8.20%. Sell-side analysts predict that Greenlight Capital Re, Ltd. will post 0.50 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Greenlight Capital Re
Several institutional investors have recently made changes to their positions in GLRE. Private Management Group Inc. increased its stake in shares of Greenlight Capital Re by 10.9% during the third quarter. Private Management Group Inc. now owns 1,626,461 shares of the financial services provider's stock worth $23,584,000 after purchasing an additional 159,686 shares in the last quarter. Empowered Funds LLC grew its position in shares of Greenlight Capital Re by 9.8% in the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider's stock worth $3,078,000 after acquiring an additional 15,845 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Greenlight Capital Re by 64.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider's stock valued at $2,210,000 after acquiring an additional 50,099 shares during the period. Bank of America Corp DE boosted its stake in Greenlight Capital Re by 14.9% in 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 during the period. Finally, Renaissance Technologies LLC acquired a new position in Greenlight Capital Re in the 1st quarter valued at $1,343,000. Institutional investors own 41.52% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on GLRE shares. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday. Wall Street Zen raised Greenlight Capital Re from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".
Read Our Latest Stock Report on GLRE
About Greenlight Capital Re
(
Get Free Report)
Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.
The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.
Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.
Featured Stories
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].
