Joseph Platt, Jr. Sells 23,613 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 23,613 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total value of $425,270.13. Following the transaction, the director directly owned 11,747 shares in the company, valued at approximately $211,563.47. This represents a 66.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Greenlight Capital Re Price Performance

Shares of Greenlight Capital Re stock opened at $17.61 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The business’s 50 day simple moving average is $17.60 and its two-hundred day simple moving average is $15.13. The stock has a market capitalization of $584.12 million, a P/E ratio of 7.43 and a beta of 0.38. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly 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 company had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GLRE. 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 cut Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Institutional Investors Weigh In On Greenlight Capital Re

Large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in shares of 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 buying an additional 1,698 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after buying an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of 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 buying an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after buying an additional 2,749 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of 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 buying an additional 1,296 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

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.