Greenlight Capital Re (NASDAQ:GLRE) Releases Quarterly Earnings Results, Beats Estimates By $0.36 EPS

Greenlight Capital Re (NASDAQ:GLRE) released its earnings results on Monday. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.36, RTT News reports. The firm had revenue of $188.01 million for the quarter. Greenlight Capital Re had a return on equity of 14.21% and a net margin of 12.38%. During the same period in the prior year, the firm posted $0.39 EPS.

Greenlight Capital Re Stock Down 2.8 %

Shares of NASDAQ GLRE traded down $0.43 during mid-day trading on Thursday, reaching $15.05. 67,078 shares of the company were exchanged, compared to its average volume of 83,863. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.10. The stock has a market cap of $531.57 million, a price-to-earnings ratio of 6.14 and a beta of 0.85. Greenlight Capital Re has a 1 year low of $10.49 and a 1 year high of $15.82. The firm has a 50-day moving average of $13.77 and a 200 day moving average of $13.24.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Insider Buying and Selling

In related news, Director Ian Isaacs sold 7,159 shares of the company’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the sale, the director now directly owns 86,984 shares in the company, valued at $1,201,249.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 22.79% of the stock is currently owned by company insiders.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.