Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $119,350.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 6,820 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $17.50, for a total transaction of $119,350.00. Following the completion of the transaction, the director owned 48,180 shares in the company, valued at $843,150. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Greenlight Capital Re Stock Up 1.0%

Shares of NASDAQ GLRE opened at $17.52 on Friday. The company has a market capitalization of $581.07 million, a P/E ratio of 7.39 and a beta of 0.38. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The company’s 50 day moving average price is $17.32 and its 200-day moving average price is $14.95.

Greenlight Capital Re (NASDAQ:GLRE) last issued 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 during the quarter, compared to analyst estimates of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Private Management Group Inc. lifted its position in shares of Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after acquiring an additional 306,468 shares during the period. Vanguard Group Inc. lifted its position in shares of Greenlight Capital Re by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after acquiring an additional 49,929 shares during the period. CWA Asset Management Group LLC lifted its position in shares of Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after acquiring an additional 62,707 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after acquiring an additional 2,180 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after acquiring an additional 13,430 shares during the period. Institutional investors and hedge funds own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GLRE shares. Weiss Ratings upgraded 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 downgraded shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Greenlight Capital Re presently has a consensus 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.