Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt, Jr. Sells 23,613 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 23,613 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $18.01, for a total value of $425,270.13. Following the transaction, the director owned 11,747 shares of the company’s stock, valued at approximately $211,563.47. This trade represents a 66.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Greenlight Capital Re Trading Down 1.4%

Shares of NASDAQ:GLRE opened at $17.71 on Thursday. The stock has a 50 day moving average of $17.54 and a 200 day moving average of $15.09. The company has a current ratio of 2.46, a quick 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 $587.44 million, a PE ratio of 7.47 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 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 business had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million.

Institutional Trading of Greenlight Capital Re

Several hedge funds have recently modified their holdings of the company. Private Management Group Inc. raised its holdings in shares of Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after acquiring an additional 306,468 shares in the last quarter. Vanguard Group Inc. raised its holdings in Greenlight Capital Re by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after buying an additional 49,929 shares during the period. CWA Asset Management Group LLC raised its holdings in Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after buying an additional 62,707 shares during the period. Ameriprise Financial Inc. raised its holdings in Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after buying an additional 2,180 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after buying an additional 13,430 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLRE has been the topic of a number of research analyst reports. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Wall Street Zen cut Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

About Greenlight Capital Re

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.