Greenlight Capital Re (NASDAQ:GLRE) COO Patrick O’brien Sells 3,026 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) COO Patrick O’brien sold 3,026 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total transaction of $49,505.36. Following the completion of the sale, the chief operating officer owned 208,633 shares in the company, valued at $3,413,235.88. The trade was a 1.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Price Performance

Shares of NASDAQ:GLRE opened at $16.08 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The stock has a market cap of $533.31 million, a price-to-earnings ratio of 6.78 and a beta of 0.33. The stock’s 50 day moving average price is $17.03 and its 200 day moving average price is $15.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The firm had revenue of $189.66 million during the quarter, compared to analyst estimates of $160.88 million. Equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Greenlight Capital Re

A number of large investors have recently added to or reduced their stakes in GLRE. Pinnacle Associates Ltd. acquired a new stake in shares of Greenlight Capital Re during the 4th quarter worth approximately $2,480,000. Private Management Group Inc. lifted its holdings in Greenlight Capital Re by 12.8% in the third quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after buying an additional 136,041 shares during the period. CWA Asset Management Group LLC boosted its stake in Greenlight Capital Re by 6.9% in the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after acquiring an additional 62,707 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC bought a new position in Greenlight Capital Re in the fourth quarter valued at approximately $2,479,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Greenlight Capital Re by 64.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after acquiring an additional 50,099 shares during the period. Institutional investors own 41.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on GLRE shares. Wall Street Zen downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings upgraded shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Finally, Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Greenlight Capital Re currently has an average rating of “Moderate Buy”.

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.