Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt Jr Sells 12,000 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 12,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $17.50, for a total value of $210,000.00. Following the completion of the transaction, the director directly owned 35,360 shares of the company’s stock, valued at approximately $618,800. This trade represents a 25.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Greenlight Capital Re Stock Performance

NASDAQ:GLRE traded up $0.33 during mid-day trading on Monday, reaching $17.85. The company’s stock had a trading volume of 61,120 shares, compared to its average volume of 176,775. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The firm’s fifty day moving average price is $17.32 and its two-hundred day moving average price is $14.97. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $592.08 million, a P/E ratio of 7.53 and a beta of 0.38.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Greenlight Capital Re

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. purchased a new stake in Greenlight Capital Re in the 4th quarter worth approximately $2,480,000. Private Management Group Inc. increased its holdings in Greenlight Capital Re by 12.8% in the 3rd quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock worth $15,186,000 after acquiring an additional 136,041 shares in the last quarter. Catawba River Capital purchased a new stake in Greenlight Capital Re in the 3rd quarter worth approximately $2,542,000. CWA Asset Management Group LLC increased its holdings in Greenlight Capital Re by 6.9% in the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after acquiring an additional 62,707 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in Greenlight Capital Re in the 4th quarter worth approximately $2,479,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

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.