Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $150,725.90 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 9,230 shares of the stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $16.33, for a total transaction of $150,725.90. Following the sale, the director directly owned 60,191 shares in the company, valued at $982,919.03. This represents a 13.30% decrease in their position. The sale was disclosed in a filing with the SEC, 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 value of $64,240.00.
• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.64, for a total transaction of $83,200.00.
• 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 value of $27,318.72.

Greenlight Capital Re Trading Up 4.0%

Shares of GLRE stock opened at $16.73 on Friday. Greenlight Capital Re, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $17.00 and its two-hundred day moving average is $15.65. The company has a market capitalization of $554.93 million, a P/E ratio of 7.06 and a beta of 0.33.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million. Equities analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on GLRE. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Wall Street Zen cut shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Finally, Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Greenlight Capital Re presently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Greenlight Capital Re

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in shares of Greenlight Capital Re by 14.9% in the first quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after acquiring an additional 11,416 shares in the last quarter. Empowered Funds LLC raised its stake in Greenlight Capital Re by 9.8% in the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 15,845 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in Greenlight Capital Re by 65.9% in the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 20,459 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Greenlight Capital Re in the 1st quarter valued at about $1,343,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of 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 worth $2,210,000 after purchasing an additional 50,099 shares during the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.

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.