Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells 11,747 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 11,747 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total value of $198,171.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Greenlight Capital Re Price Performance

Shares of GLRE stock traded down $0.26 during trading hours on Wednesday, hitting $16.50. The company had a trading volume of 46,403 shares, compared to its average volume of 179,016. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The firm has a market capitalization of $547.14 million, a price-to-earnings ratio of 6.96 and a beta of 0.38. The firm’s fifty day moving average is $17.71 and its 200 day moving average is $15.23. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The company had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million.

Analyst Ratings Changes

A number of research firms recently commented on GLRE. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. Wall Street Zen lowered Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Greenlight Capital Re presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,698 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 3,174 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 1,627 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,749 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 1,296 shares during the period. Institutional investors and hedge funds own 41.52% of the company’s stock.

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.