Greenlight Capital Re (NASDAQ:GLRE) Director Sells $425,270.13 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 23,613 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total transaction of $425,270.13. Following the transaction, the director owned 11,747 shares in the company, valued at approximately $211,563.47. This trade represents a 66.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Greenlight Capital Re Stock Performance

Greenlight Capital Re stock traded down $0.24 during midday trading on Wednesday, reaching $17.73. 117,184 shares of the company traded hands, compared to its average volume of 177,435. The firm has a market capitalization of $588.03 million, a price-to-earnings ratio of 7.48 and a beta of 0.38. The business has a 50 day moving average of $17.47 and a two-hundred day moving average of $15.05. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings data 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). The company had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%.

Institutional Trading of Greenlight Capital Re

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

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Wall Street Zen cut shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

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.