Greenlight Capital Re (NASDAQ:GLRE) Director Sells $210,000.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 12,000 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $17.50, for a total transaction of $210,000.00. Following the transaction, the director directly owned 35,360 shares in the company, valued at approximately $618,800. This trade represents a 25.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Greenlight Capital Re Stock Performance

NASDAQ:GLRE opened at $17.71 on Thursday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The stock has a market cap of $587.44 million, a PE ratio of 7.47 and a beta of 0.38. The firm’s fifty day simple moving average is $17.54 and its 200-day simple moving average is $15.09.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLRE. Weiss Ratings raised shares of 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 shares of 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 MarketBeat.com, Greenlight Capital Re currently has an average rating of “Buy”.

Institutional Investors Weigh In On Greenlight Capital Re

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC grew 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 valued at $145,000 after acquiring an additional 1,296 shares during the last quarter. BNP Paribas Financial Markets grew its stake 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 valued at $441,000 after acquiring an additional 1,429 shares during the last quarter. Bank of America Corp DE grew its stake 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 valued at $564,000 after acquiring an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC grew its stake 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 valued at $49,000 after acquiring an additional 1,627 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 valued at $30,000 after acquiring an additional 1,698 shares during the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.

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.