Greenlight Capital Re (NASDAQ:GLRE) Director Purchases $92,520.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Leonard Goldberg acquired 6,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $15.42 per share, for a total transaction of $92,520.00. Following the purchase, the director directly owned 36,000 shares in the company, valued at approximately $555,120. This represents a 20.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this link.

Greenlight Capital Re Trading Up 1.6%

Shares of Greenlight Capital Re stock opened at $15.70 on Friday. The business has a fifty day simple moving average of $16.30 and a 200-day simple moving average of $16.23. Greenlight Capital Re, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The firm has a market cap of $520.77 million, a price-to-earnings ratio of 10.68 and a beta of 0.33. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE) last released its 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). Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.The firm had revenue of $137.46 million for the quarter, compared to analyst estimates of $165.31 million. On average, equities analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently modified their holdings of the stock. Private Management Group Inc. lifted its holdings in shares of Greenlight Capital Re by 25.6% during the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after purchasing an additional 306,468 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Greenlight Capital Re in the 4th quarter valued at $2,480,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in Greenlight Capital Re in the 4th quarter worth about $2,479,000. Millennium Management LLC increased its stake in Greenlight Capital Re by 546.5% in the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock worth $2,906,000 after purchasing an additional 168,486 shares in the last quarter. Finally, HRT Financial LP raised its holdings in Greenlight Capital Re by 459.1% during the 4th quarter. HRT Financial LP now owns 118,654 shares of the financial services provider’s stock worth $1,729,000 after buying an additional 97,433 shares during the period. 41.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.