Greenlight Capital Re (NASDAQ:GLRE) Director Sells $27,318.72 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $15.92, for a total transaction of $27,318.72. Following the completion of the transaction, the director owned 69,421 shares in the company, valued at approximately $1,105,182.32. This trade represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ian Isaacs also recently made the following trade(s):

• On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.06, for a total value of $64,240.00.
• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.64, for a total value of $83,200.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.33, for a total value of $150,725.90.

Greenlight Capital Re Trading Up 4.0%

Shares of GLRE opened at $16.73 on Friday. Greenlight Capital Re, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39. The firm has a market capitalization of $554.93 million, a P/E ratio of 7.06 and a beta of 0.33. 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’s fifty day simple moving average is $17.00 and its 200 day simple moving average is $15.65.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The firm had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. On average, equities research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.

Institutional Investors Weigh In On Greenlight Capital Re

Large investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its holdings in Greenlight Capital Re by 14.9% in the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after acquiring an additional 11,416 shares during the period. Empowered Funds LLC raised its stake in shares of Greenlight Capital Re by 9.8% during the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 15,845 shares during the period. Quantinno Capital Management LP raised its stake in shares of Greenlight Capital Re by 65.9% during the first quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 20,459 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Greenlight Capital Re during the first quarter worth $1,343,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Greenlight Capital Re by 64.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 50,099 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. 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. Finally, Wall Street Zen downgraded shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.