Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) General Counsel Sells 7,500 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) General Counsel David Sigmon sold 7,500 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $17.33, for a total transaction of $129,975.00. Following the transaction, the general counsel owned 32,678 shares in the company, valued at approximately $566,309.74. This represents a 18.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Stock Up 0.2%

Shares of Greenlight Capital Re stock traded up $0.04 on Friday, hitting $17.38. 74,517 shares of the company traded hands, compared to its average volume of 177,259. The company has a 50-day moving average price of $17.26 and a 200 day moving average price of $14.93. The company has a quick ratio of 2.46, a current ratio of 2.46 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 company has a market cap of $576.49 million, a PE ratio of 7.33 and a beta of 0.38.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly 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). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The company had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of 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 during the period. Quadrant Capital Group LLC increased its holdings in shares of Greenlight Capital Re by 7,213.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 3,174 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,627 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,749 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Greenlight Capital Re by 12.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,296 shares during the period. Institutional investors own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLRE shares. Weiss Ratings raised shares of 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 shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Greenlight Capital Re 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.