Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt, Jr. Sells 12,000 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 12,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $17.50, for a total transaction of $210,000.00. Following the completion of the transaction, the director directly owned 35,360 shares of the company’s stock, valued at approximately $618,800. The trade was a 25.34% 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.

Greenlight Capital Re Price Performance

GLRE stock opened at $17.93 on Tuesday. Greenlight Capital Re, Ltd. has a 1 year low of $11.56 and a 1 year high of $19.39. The company has a market cap of $594.74 million, a P/E ratio of 7.57 and a beta of 0.38. The firm has a 50-day moving average of $17.40 and a 200 day moving average of $15.01. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.The company had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million.

Institutional Investors Weigh In On Greenlight Capital Re

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Greenlight Capital Re by 4.9% in the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 1,429 shares during the last quarter. Bank of America Corp DE boosted its holdings in Greenlight Capital Re by 3.8% in the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Greenlight Capital Re by 90.2% in the second 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 last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Greenlight Capital Re by 3,773.3% in the first 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 last quarter. Institutional investors own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on GLRE shares. Wall Street Zen downgraded shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Greenlight Capital Re has a consensus 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.