Greenlight Capital Re Ltd. (GLRE) Forecasted to Post FY2016 Earnings of $0.90 Per Share
Greenlight Capital Re Ltd. (NASDAQ:GLRE) – Equities research analysts at Langen Mcalenn cut their FY2016 EPS estimates for shares of Greenlight Capital Re in a note issued to investors on Thursday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the brokerage will earn $0.90 per share for the year, down from their previous estimate of $1.00. Langen Mcalenn has a “Buy” rating on the stock. Langen Mcalenn also issued estimates for Greenlight Capital Re’s Q4 2016 earnings at $0.67 EPS, Q1 2017 earnings at $0.60 EPS, Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.65 EPS and FY2017 earnings at $2.35 EPS.
Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Monday, August 1st. The company reported ($1.69) earnings per share for the quarter, missing the consensus estimate of ($1.09) by $0.60.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Greenlight Capital Re from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 2nd. Janney Montgomery Scott began coverage on Greenlight Capital Re in a research note on Wednesday, June 1st. They issued a “buy” rating for the company.
Shares of Greenlight Capital Re (NASDAQ:GLRE) opened at 20.05 on Monday. The firm’s market cap is $748.27 million. The stock’s 50 day moving average price is $20.76 and its 200 day moving average price is $20.67. Greenlight Capital Re has a 12 month low of $16.05 and a 12 month high of $25.20.
In other Greenlight Capital Re news, Director Leonard R. Goldberg sold 5,145 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $19.85, for a total transaction of $102,128.25. Following the completion of the sale, the director now directly owns 168,361 shares in the company, valued at $3,341,965.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Barton Hedges sold 50,000 shares of the company’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $20.39, for a total value of $1,019,500.00. Following the sale, the chief executive officer now owns 274,262 shares of the company’s stock, valued at $5,592,202.18. The disclosure for this sale can be found here. Company insiders own 22.08% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Weatherbie Capital LLC raised its stake in shares of Greenlight Capital Re by 14.9% in the second quarter. Weatherbie Capital LLC now owns 627,419 shares of the company’s stock valued at $12,649,000 after buying an additional 81,227 shares in the last quarter. AXA bought a new stake in shares of Greenlight Capital Re during the second quarter valued at $256,000. Alliancebernstein L.P. increased its stake in shares of Greenlight Capital Re by 2.7% in the second quarter. Alliancebernstein L.P. now owns 50,145 shares of the company’s stock valued at $1,011,000 after buying an additional 1,300 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Greenlight Capital Re by 0.9% in the second quarter. HighTower Advisors LLC now owns 52,998 shares of the company’s stock valued at $1,068,000 after buying an additional 493 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of Greenlight Capital Re by 1.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 786,354 shares of the company’s stock valued at $15,853,000 after buying an additional 11,630 shares during the last quarter. Institutional investors own 42.83% of the company’s stock.
Greenlight Capital Re Company Profile
Greenlight Capital Re, Ltd. is a property and casualty reinsurance holding company. The Company operates through property and casualty reinsurance segment. Its underwriting operations are classified into two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for losses emanating from one event or multiple events.
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