Greenlight Capital Re (NASDAQ:GLRE) Insider Sherry Diaz Sells 13,500 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) insider Sherry Diaz sold 13,500 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $15.08, for a total value of $203,580.00. Following the completion of the transaction, the insider owned 86,879 shares in the company, valued at approximately $1,310,135.32. This represents a 13.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Greenlight Capital Re Trading Down 0.2%

GLRE stock traded down $0.03 during midday trading on Friday, reaching $15.02. The stock had a trading volume of 58,334 shares, compared to its average volume of 168,416. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. The firm has a market cap of $490.25 million, a price-to-earnings ratio of 10.22 and a beta of 0.32. The business has a fifty day simple moving average of $15.86 and a two-hundred day simple moving average of $16.45. Greenlight Capital Re, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.54). Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. The business had revenue of $137.46 million for the quarter, compared to the consensus estimate of $165.31 million. As a group, research analysts expect that Greenlight Capital Re, Ltd. will post 1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

GLRE has been the topic of several recent analyst reports. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Weiss Ratings lowered shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Greenlight Capital Re

Several large investors have recently made changes to their positions in GLRE. Engineers Gate Manager LP increased its stake in shares of Greenlight Capital Re by 9.1% during the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 1,705 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Greenlight Capital Re by 10.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 6,178 shares during the last quarter. Bank of America Corp DE grew its holdings in Greenlight Capital Re by 14.9% during the first quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after purchasing an additional 11,416 shares during the period. Empowered Funds LLC increased its position in Greenlight Capital Re by 9.8% during the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 15,845 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Greenlight Capital Re by 65.9% during the first quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock worth $891,000 after buying an additional 20,459 shares during the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd. is a specialty property and casualty reinsurance company headquartered in the Cayman Islands. Through its operating subsidiaries, the company provides reinsurance capacity to insurance companies and other risk-bearing organizations, helping them manage and transfer portions of their underwriting exposure.

Its business has included customized reinsurance arrangements across property, casualty and specialty lines. These arrangements may include quota-share and excess-of-loss structures, allowing clients to address specific risks, expand underwriting capacity or manage the volatility of their insurance portfolios.

Founded in 2004, Greenlight Capital Re has operated through entities in the Cayman Islands and Ireland and has served clients in multiple international insurance markets.