Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $83,200.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $16.64, for a total transaction of $83,200.00. Following the transaction, the director owned 55,191 shares in the company, valued at $918,378.24. The trade was a 8.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.06, for a total transaction of $64,240.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.33, for a total transaction of $150,725.90.
• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.92, for a total transaction of $27,318.72.

Greenlight Capital Re Trading Up 2.9%

Shares of GLRE traded up $0.46 during trading hours on Friday, hitting $16.54. The company had a trading volume of 52,893 shares, compared to its average volume of 175,537. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average price is $17.03 and its 200 day moving average price is $15.64. The firm has a market cap of $548.57 million, a P/E ratio of 6.98 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last announced 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). The company had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%. On average, research analysts predict that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Analyst Upgrades and Downgrades

GLRE has been the subject of a number of recent analyst reports. Zacks Research raised Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLRE. PNC Financial Services Group Inc. boosted its position in shares of Greenlight Capital Re by 3,773.3% during the first 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 in the last quarter. Quadrant Capital Group LLC lifted its position in Greenlight Capital Re by 7,213.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after buying an additional 3,174 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Greenlight Capital Re by 90.2% during 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 buying an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,749 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Greenlight Capital Re in the 3rd quarter worth about $164,000. Institutional investors own 41.52% of the company’s stock.

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.