Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt, Jr. Sells 820 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 820 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $17.50, for a total value of $14,350.00. Following the sale, the director directly owned 47,360 shares of the company’s stock, valued at approximately $828,800. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Greenlight Capital Re Trading Down 0.5%

Shares of NASDAQ GLRE opened at $17.34 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a market cap of $575.17 million, a price-to-earnings ratio of 7.32 and a beta of 0.38. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $17.26 and a 200-day simple moving average of $14.93.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20). The company 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%.

Institutional Investors Weigh In On Greenlight Capital Re

Several hedge funds have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its stake in Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets increased its position in Greenlight Capital Re by 4.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 1,429 shares during the last quarter. Bank of America Corp DE increased its position in Greenlight Capital Re by 3.8% in the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,627 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,698 shares during the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on GLRE shares. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “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.