Greenlight Capital Re (NASDAQ:GLRE) Issues Earnings Results, Beats Estimates By $0.35 EPS

Greenlight Capital Re (NASDAQ:GLRE) issued its quarterly earnings data on Monday. The financial services provider reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.35, FiscalAI reports. The company had revenue of $148.29 million during the quarter, compared to analyst estimates of $167.94 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.

Greenlight Capital Re Trading Up 2.9%

NASDAQ:GLRE traded up $0.43 on Monday, reaching $15.09. 136,289 shares of the company’s stock were exchanged, compared to its average volume of 161,097. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $492.55 million, a price-to-earnings ratio of 10.27 and a beta of 0.27. The business has a fifty day moving average of $15.00 and a 200-day moving average of $15.79. Greenlight Capital Re has a 52-week low of $11.56 and a 52-week high of $19.39.

Analysts Set New Price Targets

Several equities analysts have recently commented on GLRE shares. Weiss Ratings lowered Greenlight Capital Re from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, Greenlight Capital Re has an average rating of “Hold”.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 10,000 shares of the business’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $14.95, for a total value of $149,500.00. Following the completion of the transaction, the director owned 43,142 shares in the company, valued at $644,972.90. The trade was a 18.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sherry Diaz sold 13,500 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $15.08, for a total value of $203,580.00. Following the sale, the insider directly owned 86,879 shares in the company, valued at $1,310,135.32. This represents a 13.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,500 shares of company stock valued at $580,305 in the last 90 days. Company insiders own 24.67% of the company’s stock.

About Greenlight Capital Re

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.