Greenlight Capital Re (NASDAQ:GLRE) COO Sells $49,505.36 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) COO Patrick O’brien sold 3,026 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total transaction of $49,505.36. Following the transaction, the chief operating officer owned 208,633 shares of the company’s stock, valued at $3,413,235.88. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Stock Performance

Shares of NASDAQ:GLRE opened at $16.73 on Friday. The firm has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $15.65. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week high of $19.39. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The stock 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 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 net margin of 11.47% and a return on equity of 11.69%. The business had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million. On average, analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLRE. Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Wall Street Zen lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Finally, Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Institutional Trading of Greenlight Capital Re

Several institutional investors and hedge funds have recently made changes to their positions in GLRE. PNC Financial Services Group Inc. boosted its stake in shares of Greenlight Capital Re by 3,773.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 1,698 shares during the period. Quadrant Capital Group LLC increased its stake in Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after buying an additional 3,174 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,749 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Greenlight Capital Re in the 3rd quarter valued at about $164,000. 41.52% of the stock is currently owned by institutional investors.

Greenlight Capital Re Company Profile

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.