Greenlight Capital Re (NASDAQ:GLRE) Announces Quarterly Earnings Results

Greenlight Capital Re (NASDAQ:GLRE) announced its quarterly earnings data on Monday. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.35, FiscalAI reports. The firm had revenue of $148.29 million during the quarter, compared to the consensus estimate of $167.94 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%.

Greenlight Capital Re Price Performance

Shares of GLRE traded up $0.43 during trading hours on Monday, reaching $15.09. 136,289 shares of the company’s stock traded hands, compared to its average volume of 161,097. The firm’s 50 day simple moving average is $15.00 and its 200-day simple moving average is $15.79. The stock has a market cap of $492.55 million, a PE ratio of 10.27 and a beta of 0.27. Greenlight Capital Re has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01.

Insider Buying and Selling at Greenlight Capital Re

In other news, Director Leonard Goldberg acquired 6,000 shares of Greenlight Capital Re stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $15.42 per share, for a total transaction of $92,520.00. Following the transaction, the director owned 36,000 shares of the company’s stock, valued at $555,120. This trade represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ian Isaacs sold 5,150 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $14.90, for a total value of $76,735.00. Following the transaction, the director directly owned 37,992 shares in the company, valued at approximately $566,080.80. This represents a 11.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,500 shares of company stock worth $580,305 over the last 90 days. Corporate insiders own 24.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLRE. Weiss Ratings lowered shares of Greenlight Capital Re from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Wall Street Zen raised shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Greenlight Capital Re Company Profile

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.