Greenlight Capital Re (NASDAQ:GLRE) Director Ian Isaacs Sells 9,230 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 9,230 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $16.33, for a total transaction of $150,725.90. Following the completion of the sale, the director directly owned 60,191 shares in the company, valued at $982,919.03. This trade represents a 13.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ian Isaacs also recently made the following trade(s):

• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.92, for a total transaction of $27,318.72.

Greenlight Capital Re Trading Up 0.4%

Shares of GLRE traded up $0.07 during mid-day trading on Wednesday, reaching $16.52. 174,034 shares of the company’s stock traded hands, compared to its average volume of 176,365. The stock has a market cap of $547.97 million, a P/E ratio of 6.97 and a beta of 0.33. The stock’s 50-day moving average is $17.10 and its two-hundred day moving average is $15.61. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. 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 issued its quarterly earnings results 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 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. Research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLRE has been the subject of several research analyst reports. Wall Street Zen downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. 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. Finally, Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of Greenlight Capital Re by 61.1% in the 1st quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after buying an additional 17,029 shares during the period. Empowered Funds LLC lifted its stake 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 acquiring an additional 9,066 shares during the period. Jane Street Group LLC purchased a new stake in Greenlight Capital Re in the first quarter worth about $335,000. First Trust Advisors LP grew its holdings in Greenlight Capital Re by 3.2% during the 2nd quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock worth $1,172,000 after acquiring an additional 2,553 shares in the last quarter. Finally, Ameriprise Financial Inc. grew 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 worth $9,532,000 after acquiring an additional 2,180 shares in the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

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.