Greenlight Capital Re (NASDAQ:GLRE) Director Ian Isaacs Sells 5,000 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $16.64, for a total transaction of $83,200.00. Following the completion of the sale, the director owned 55,191 shares in the company, valued at $918,378.24. This represents a 8.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.06, for a total value of $64,240.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The stock was 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 Stock Up 2.9%

Shares of NASDAQ GLRE traded up $0.46 during trading on Friday, hitting $16.54. The stock had a trading volume of 52,893 shares, compared to its average volume of 175,537. The firm has a fifty day moving average of $17.03 and a two-hundred day moving average of $15.64. The company has a market capitalization of $548.57 million, a PE ratio of 6.98 and a beta of 0.33. 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, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) 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 business had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million. As a group, equities research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in Greenlight Capital Re by 14.9% during the first quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after purchasing an additional 11,416 shares during the last quarter. Empowered Funds LLC increased its stake in Greenlight Capital Re by 9.8% in the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 15,845 shares during the last quarter. Quantinno Capital Management LP increased its stake in Greenlight Capital Re by 65.9% in the first quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 20,459 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Greenlight Capital Re during the first quarter valued at about $1,343,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Greenlight Capital Re by 64.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after purchasing an additional 50,099 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Analyst Ratings Changes

GLRE has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.