Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt Jr Sells 11,747 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 11,747 shares of Greenlight Capital Re stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total value of $198,171.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Greenlight Capital Re Price Performance

Shares of NASDAQ GLRE traded down $0.26 during mid-day trading on Wednesday, reaching $16.50. The company had a trading volume of 46,403 shares, compared to its average volume of 179,016. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $547.14 million, a PE ratio of 6.96 and a beta of 0.38. The company has a 50-day moving average price of $17.71 and a two-hundred day moving average price of $15.23. Greenlight Capital Re, Ltd. has a 1-year low of $11.56 and a 1-year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate 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 return on equity of 11.69% and a net margin of 11.47%.

Hedge Funds Weigh In On Greenlight Capital Re

Several large investors have recently added to or reduced their stakes in the company. Private Management Group Inc. raised its holdings in Greenlight Capital Re by 25.6% in the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after acquiring an additional 306,468 shares in the last quarter. Vanguard Group Inc. raised its holdings in Greenlight Capital Re by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after acquiring an additional 49,929 shares in the last quarter. CWA Asset Management Group LLC raised its holdings in Greenlight Capital Re by 6.9% in the 4th 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in Greenlight Capital Re by 0.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after acquiring an additional 2,180 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Greenlight Capital Re by 4.1% in the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after acquiring an additional 13,430 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GLRE shares. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. Wall Street Zen cut Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “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.