Pinnacle Wealth Management Advisory Group LLC Has $1.89 Million Stock Position in Greenlight Capital Re, Ltd. $GLRE

Pinnacle Wealth Management Advisory Group LLC trimmed its stake in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 31.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,881 shares of the financial services provider’s stock after selling 53,169 shares during the period. Pinnacle Wealth Management Advisory Group LLC owned about 0.36% of Greenlight Capital Re worth $1,891,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GLRE. PNC Financial Services Group Inc. increased 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 purchasing an additional 1,698 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Greenlight Capital Re by 7,213.6% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Greenlight Capital Re by 90.2% during the second 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 in the last quarter. Russell Investments Group Ltd. raised its position in 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 valued at $54,000 after buying an additional 2,749 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Greenlight Capital Re by 313.6% in the 2nd quarter. California State Teachers Retirement System now owns 5,857 shares of the financial services provider’s stock valued at $95,000 after buying an additional 4,441 shares during the last quarter. 41.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GLRE. Wall Street Zen downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Zacks Research upgraded shares of Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings lowered shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Two equities 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”.

Insider Transactions at Greenlight Capital Re

In other news, COO Patrick O’brien sold 3,026 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total value of $49,505.36. Following the sale, the chief operating officer directly owned 208,633 shares of the company’s stock, valued at approximately $3,413,235.88. This represents a 1.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Ian Isaacs sold 9,230 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $16.33, for a total transaction of $150,725.90. Following the completion of the sale, the director owned 60,191 shares of the company’s stock, valued at $982,919.03. This trade represents a 13.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 27,972 shares of company stock worth $452,099 in the last ninety days. Insiders own 24.67% of the company’s stock.

Greenlight Capital Re Trading Down 0.7%

Shares of Greenlight Capital Re stock opened at $14.98 on Thursday. The stock has a market cap of $488.95 million, a P/E ratio of 10.19 and a beta of 0.32. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The business’s 50 day moving average is $16.03 and its 200-day moving average is $16.42.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The firm had revenue of $137.46 million during the quarter, compared to the consensus estimate of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. Equities research analysts predict that Greenlight Capital Re, Ltd. will post 1.25 earnings per share for the current fiscal year.

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.