Greenlight Capital Re (NASDAQ:GLRE) COO Sells 3,026 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) COO Patrick O’brien sold 3,026 shares of Greenlight Capital Re stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $16.36, for a total value of $49,505.36. Following the transaction, the chief operating officer directly owned 208,633 shares of the company’s stock, valued at approximately $3,413,235.88. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Price Performance

GLRE traded down $0.44 during trading on Thursday, reaching $16.08. 218,417 shares of the stock were exchanged, compared to its average volume of 176,715. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market capitalization of $533.37 million, a price-to-earnings ratio of 6.78 and a beta of 0.33. Greenlight Capital Re, Ltd. has a 1 year low of $11.56 and a 1 year high of $19.39. The business’s 50 day moving average price is $17.07 and its two-hundred day moving average price is $15.62.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly 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 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. As a group, equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.

Wall Street Analyst Weigh In

GLRE has been the subject of a number of recent research reports. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in shares of Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 1,429 shares during the last quarter. Bank of America Corp DE increased its stake in Greenlight Capital Re by 3.8% in the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Greenlight Capital Re by 90.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,627 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Greenlight Capital Re by 3,773.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,698 shares during the period. Finally, Independent Advisor Alliance boosted its stake in Greenlight Capital Re by 2.8% in the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock worth $941,000 after buying an additional 1,751 shares during 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.