Greenlight Capital Re (NASDAQ:GLRE) Director Buys $93,720.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Leonard Goldberg acquired 6,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $15.62 per share, for a total transaction of $93,720.00. Following the completion of the acquisition, the director owned 30,000 shares in the company, valued at approximately $468,600. This trade represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Greenlight Capital Re Stock Up 1.6%

GLRE opened at $15.70 on Friday. Greenlight Capital Re, Ltd. has a 1 year low of $11.56 and a 1 year high of $19.39. The firm has a 50 day moving average price of $16.30 and a 200 day moving average price of $16.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43. The company has a market cap of $520.77 million, a PE ratio of 10.68 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.54). Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.The business had revenue of $137.46 million for the quarter, compared to analysts’ expectations of $165.31 million. Sell-side analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current year.

Institutional Trading of Greenlight Capital Re

Several hedge funds and other institutional investors have recently bought and sold shares of GLRE. PNC Financial Services Group Inc. lifted its holdings in Greenlight Capital Re by 3,773.3% during 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 increased its holdings 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 valued at $47,000 after acquiring an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 valued at $49,000 after acquiring an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,749 shares in the last quarter. Finally, Oxford Asset Management LLP acquired a new stake in shares of Greenlight Capital Re during the 4th quarter valued at approximately $177,000. 41.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GLRE. Weiss Ratings downgraded Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, Zacks Research raised Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.