Greenlight Capital Re (NASDAQ:GLRE) Issues Quarterly Earnings Results, Beats Expectations By $0.36 EPS

Greenlight Capital Re (NASDAQ:GLRE) posted its earnings results on Monday. The financial services provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.36, Zacks reports. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%. The firm had revenue of $179.63 million for the quarter.

Greenlight Capital Re Trading Up 0.5%

NASDAQ GLRE opened at $12.83 on Tuesday. The firm has a market capitalization of $443.40 million, a PE ratio of 9.95 and a beta of 0.67. The business’s 50-day moving average price is $13.96 and its two-hundred day moving average price is $13.62. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.09. Greenlight Capital Re has a 12 month low of $11.95 and a 12 month high of $15.82.

Insider Transactions at Greenlight Capital Re

In related news, Director Ian Isaacs sold 13,000 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total value of $193,960.00. Following the transaction, the director directly owned 71,484 shares of the company’s stock, valued at $1,066,541.28. The trade was a 15.39% 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. Also, COO Patrick O’brien sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $13.48, for a total transaction of $101,100.00. Following the transaction, the chief operating officer owned 182,925 shares of the company’s stock, valued at approximately $2,465,829. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,500 shares of company stock valued at $361,160 over the last 90 days. 23.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Several hedge funds and other institutional investors have recently bought and sold shares of GLRE. Empowered Funds LLC grew its holdings in Greenlight Capital Re by 8.3% in the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock worth $1,596,000 after purchasing an additional 9,066 shares during the period. AQR Capital Management LLC boosted its position in shares of Greenlight Capital Re by 61.1% during the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 17,029 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Greenlight Capital Re during the 1st quarter worth about $335,000. Institutional investors and hedge funds own 41.52% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Saturday, July 5th.

About Greenlight Capital Re

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.