Leonard Goldberg Buys 6,000 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Leonard Goldberg purchased 6,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $15.62 per share, for a total transaction of $93,720.00. Following the completion of the purchase, the director owned 30,000 shares of the company’s stock, valued at approximately $468,600. This trade represents a 25.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Greenlight Capital Re Trading Up 0.7%

Shares of GLRE stock traded up $0.10 during trading hours on Tuesday, hitting $15.46. 101,745 shares of the company were exchanged, compared to its average volume of 176,522. The firm has a market cap of $512.58 million, a P/E ratio of 10.54 and a beta of 0.33. Greenlight Capital Re, Ltd. has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43. The company has a 50 day simple moving average of $16.27 and a two-hundred day simple moving average of $16.18.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share 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 company had revenue of $137.46 million during the quarter, compared to the consensus estimate of $165.31 million. Equities analysts anticipate that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GLRE. Weiss Ratings cut shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Zacks Research raised Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. Finally, Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Private Management Group Inc. increased its position in shares of Greenlight Capital Re by 25.6% during the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after acquiring an additional 306,468 shares in the last quarter. Vanguard Group Inc. boosted its stake in Greenlight Capital Re by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after purchasing an additional 49,929 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after purchasing an additional 2,180 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock worth $4,963,000 after purchasing an additional 13,430 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Greenlight Capital Re by 73.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 229,630 shares of the financial services provider’s stock worth $3,348,000 after purchasing an additional 96,983 shares in the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.

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.