Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $198,171.89 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 11,747 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $16.87, for a total value of $198,171.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Greenlight Capital Re Stock Down 1.4%

Shares of NASDAQ:GLRE opened at $15.67 on Friday. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week high of $19.39. The firm has a market capitalization of $519.71 million, a P/E ratio of 6.61 and a beta of 0.38. The stock has a 50 day moving average price of $17.67 and a 200-day moving average price of $15.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) 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 firm had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million. As a group, equities research analysts anticipate that Greenlight Capital Re, Ltd. will post 2 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after buying an additional 11,416 shares in the last quarter. Empowered Funds LLC increased its position in Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after buying an additional 15,845 shares in the last quarter. Quantinno Capital Management LP increased its position in Greenlight Capital Re by 65.9% during the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after buying an additional 20,459 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Greenlight Capital Re during the 1st quarter valued at $1,343,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Greenlight Capital Re by 64.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 50,099 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Greenlight Capital Re from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research raised Greenlight Capital Re to a “hold” rating in a research report on Wednesday. Finally, Weiss Ratings raised 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. Based on data from MarketBeat.com, Greenlight Capital Re has a consensus rating of “Moderate Buy”.

About Greenlight Capital Re

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.