Leonard Goldberg Acquires 6,000 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Leonard Goldberg acquired 6,000 shares of Greenlight Capital Re stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $15.42 per share, with a total value of $92,520.00. Following the purchase, the director directly owned 36,000 shares of the company’s stock, valued at approximately $555,120. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Greenlight Capital Re Trading Up 0.3%

Shares of GLRE opened at $15.46 on Thursday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average is $16.29 and its two-hundred day moving average is $16.21. Greenlight Capital Re, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39. The firm has a market capitalization of $512.81 million, a P/E ratio of 10.52 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). The company had revenue of $137.46 million for the quarter, compared to analyst estimates of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. On average, research analysts predict that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research raised Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Weiss Ratings cut Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Institutional Trading of Greenlight Capital Re

Several large investors have recently modified their holdings of the business. Wedge Capital Management L L P NC grew its position in shares of Greenlight Capital Re by 10.9% in the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 6,178 shares during the last quarter. Bank of America Corp DE raised its position in shares of Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 11,416 shares during the last quarter. Empowered Funds LLC raised its position in shares of Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 15,845 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Greenlight Capital Re by 65.9% in the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after buying an additional 20,459 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Greenlight Capital Re in the 1st quarter valued at approximately $1,343,000. 41.52% of the stock is currently owned by institutional investors and hedge funds.

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.