Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt, Jr. Sells 11,747 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 11,747 shares of Greenlight Capital Re stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total value of $198,171.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Greenlight Capital Re Stock Down 2.5%

Greenlight Capital Re stock opened at $16.33 on Thursday. The firm has a market cap of $541.67 million, a price-to-earnings ratio of 6.89 and a beta of 0.38. The stock has a fifty day simple moving average of $17.71 and a two-hundred day simple moving average of $15.26. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The business had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Institutional Investors Weigh In On Greenlight Capital Re

Several large investors have recently made changes to their positions in GLRE. AQR Capital Management LLC increased its holdings 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 during the last quarter. Empowered Funds LLC increased its holdings 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 during the last quarter. Jane Street Group LLC bought a new stake in shares of Greenlight Capital Re in the first quarter worth about $335,000. First Trust Advisors LP increased its holdings in shares of Greenlight Capital Re by 3.2% in the second quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock worth $1,172,000 after purchasing an additional 2,553 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Greenlight Capital Re by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after purchasing an additional 2,180 shares during the last quarter. 41.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

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