Greenlight Capital Re (NASDAQ:GLRE) Stock: Insider Richard Paul Strommer Sells 25,000 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) insider Richard Paul Strommer sold 25,000 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the insider owned 47,648 shares in the company, valued at approximately $781,427.20. The trade was a 34.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Greenlight Capital Re Stock Down 1.8%

Greenlight Capital Re stock opened at $16.08 on Friday. Greenlight Capital Re, Ltd. has a fifty-two week low of $12.43 and a fifty-two week high of $19.39. The firm has a market capitalization of $524.87 million, a price-to-earnings ratio of 9.46 and a beta of 0.28. The stock’s fifty day moving average is $15.05 and its two-hundred day moving average is $15.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.40.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, November 2nd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.35. Greenlight Capital Re had a return on equity of 8.26% and a net margin of 8.56%. The business had revenue of $148.29 million during the quarter. Analysts predict that Greenlight Capital Re, Ltd. will post 0.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have 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. Wall Street Zen raised shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Greenlight Capital Re currently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Greenlight Capital Re

Hedge funds have recently bought and sold shares of the stock. Private Management Group Inc. boosted its stake in shares of Greenlight Capital Re by 10.9% during the third quarter. Private Management Group Inc. now owns 1,626,461 shares of the financial services provider’s stock valued at $23,584,000 after acquiring an additional 159,686 shares during the last quarter. Bfsg LLC increased its position in Greenlight Capital Re by 11.0% during the 3rd quarter. Bfsg LLC now owns 13,120 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,300 shares in the last quarter. Vise Technologies Inc. acquired a new position in Greenlight Capital Re in the 3rd quarter valued at about $157,000. Engineers Gate Manager LP raised its stake in Greenlight Capital Re by 9.1% in the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,705 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in Greenlight Capital Re by 10.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 6,178 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.