Greenlight Capital Re (NASDAQ:GLRE) Insider Sells 25,000 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) insider Richard Paul Strommer sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $16.40, for a total value of $410,000.00. Following the sale, the insider directly owned 47,648 shares of the company’s stock, valued at $781,427.20. The trade was a 34.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Greenlight Capital Re Stock Performance

Shares of NASDAQ:GLRE traded down $0.32 during midday trading on Friday, reaching $16.06. The company had a trading volume of 32,654 shares, compared to its average volume of 160,873. The company has a current ratio of 2.40, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01. The stock has a market cap of $524.17 million, a P/E ratio of 9.45 and a beta of 0.28. Greenlight Capital Re, Ltd. has a 52-week low of $12.43 and a 52-week high of $19.39. The company’s 50 day moving average price is $15.03 and its 200 day moving average price is $15.84.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Monday, November 2nd. The financial services provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.35. Greenlight Capital Re had a net margin of 8.56% and a return on equity of 8.26%. The firm had revenue of $148.29 million during the quarter. As a group, sell-side analysts anticipate that Greenlight Capital Re, Ltd. will post 0.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GLRE has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Institutional Trading of Greenlight Capital Re

Institutional investors have recently added to or reduced their stakes in the business. Bfsg LLC grew its position in shares of Greenlight Capital Re by 11.0% during the 3rd quarter. Bfsg LLC now owns 13,120 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 1,300 shares during the period. PNC Financial Services Group Inc. raised its holdings in 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 worth $30,000 after purchasing an additional 1,698 shares during the period. Engineers Gate Manager LP raised its holdings in Greenlight Capital Re by 9.1% in 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 period. Janney Montgomery Scott LLC raised its holdings in Greenlight Capital Re by 14.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 2,309 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Greenlight Capital Re by 10.9% during the second 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 in the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.