Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt, Jr. Sells 6,820 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 6,820 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $17.50, for a total value of $119,350.00. Following the sale, the director owned 48,180 shares in the company, valued at approximately $843,150. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Greenlight Capital Re Stock Down 0.5%

NASDAQ GLRE opened at $17.34 on Friday. The firm has a market cap of $575.17 million, a PE ratio of 7.32 and a beta of 0.38. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. The stock’s 50 day simple moving average is $17.26 and its 200 day simple moving average is $14.93. 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 released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The business had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Analyst Upgrades and Downgrades

GLRE has been the topic of a number of research analyst reports. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. Wall Street Zen lowered Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Greenlight Capital Re currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Private Management Group Inc. boosted its position in Greenlight Capital Re by 12.8% in the 3rd 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 last quarter. Catawba River Capital bought a new position in Greenlight Capital Re in the 3rd quarter valued at $2,542,000. CWA Asset Management Group LLC boosted its position 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 buying 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 4th quarter valued at $2,479,000. Finally, Bridgeway Capital Management LLC boosted its position in Greenlight Capital Re by 26.0% in the 3rd quarter. Bridgeway Capital Management LLC now owns 194,622 shares of the financial services provider’s stock valued at $2,472,000 after buying an additional 40,153 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

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.