Greenlight Capital Re (NASDAQ:GLRE) General Counsel David Sigmon Sells 7,500 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) General Counsel David Sigmon sold 7,500 shares of Greenlight Capital Re stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $17.33, for a total transaction of $129,975.00. Following the completion of the sale, the general counsel directly owned 32,678 shares in the company, valued at approximately $566,309.74. This represents a 18.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Stock Performance

Shares of GLRE stock opened at $17.52 on Friday. The firm has a market cap of $581.14 million, a price-to-earnings ratio of 7.39 and a beta of 0.38. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week high of $19.39. The firm’s 50-day simple moving average is $17.32 and its two-hundred day simple moving average is $14.95.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The firm had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLRE shares. Wall Street Zen downgraded Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Greenlight Capital Re presently has an average rating of “Buy”.

Institutional Trading of Greenlight Capital Re

A number of institutional investors have recently modified their holdings of GLRE. AQR Capital Management LLC lifted its stake in shares of Greenlight Capital Re by 61.1% during the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock valued at $608,000 after buying an additional 17,029 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Greenlight Capital Re by 8.3% during the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after buying an additional 9,066 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Greenlight Capital Re during the 1st quarter valued at approximately $335,000. First Trust Advisors LP lifted its stake in shares of Greenlight Capital Re by 3.2% during the 2nd quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock valued at $1,172,000 after buying an additional 2,553 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after buying an additional 2,180 shares in the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

About Greenlight Capital Re

Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.

The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.