Ian Isaacs Sells 4,000 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 4,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $16.06, for a total value of $64,240.00. Following the completion of the transaction, the director directly owned 51,191 shares in the company, valued at approximately $822,127.46. The trade was a 7.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ian Isaacs also recently made the following trade(s):

• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.64, for a total value of $83,200.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.33, for a total value of $150,725.90.
• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.92, for a total value of $27,318.72.

Greenlight Capital Re Trading Up 4.0%

NASDAQ:GLRE opened at $16.73 on Friday. The company has a market capitalization of $554.93 million, a P/E ratio of 7.06 and a beta of 0.33. The stock’s 50 day moving average price is $17.00 and its 200 day moving average price is $15.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week high of $19.39.

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

Hedge Funds Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently made changes to their positions in GLRE. BNP Paribas Financial Markets boosted its holdings in Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock valued at $441,000 after purchasing an additional 1,429 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Greenlight Capital Re by 3.8% in the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock valued at $564,000 after buying an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Greenlight Capital Re by 90.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,627 shares during the last quarter. PNC Financial Services Group Inc. raised 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. Finally, Independent Advisor Alliance lifted its holdings in Greenlight Capital Re by 2.8% during the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock worth $941,000 after buying an additional 1,751 shares in the last quarter. 41.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports 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. Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate 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.