Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) released its quarterly earnings data on Monday. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.35, FiscalAI reports. Greenlight Capital Re had a return on equity of 8.20% and a net margin of 8.56%. The firm had revenue of $148.29 million for the quarter.
Greenlight Capital Re Stock Up 1.3%
Shares of GLRE opened at $15.29 on Wednesday. Greenlight Capital Re has a 52 week low of $11.56 and a 52 week high of $19.39. The firm has a market cap of $499.07 million, a P/E ratio of 8.88 and a beta of 0.28. The firm’s 50-day simple moving average is $14.99 and its 200 day simple moving average is $15.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43.
Insider Buying and Selling at Greenlight Capital Re
In other Greenlight Capital Re news, Director Ian Isaacs sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $14.95, for a total transaction of $149,500.00. Following the completion of the sale, the director directly owned 43,142 shares in the company, valued at $644,972.90. This trade represents a 18.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sherry Diaz sold 13,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $15.08, for a total transaction of $203,580.00. Following the sale, the insider owned 86,879 shares of the company’s stock, valued at $1,310,135.32. This trade represents a 13.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,500 shares of company stock valued at $580,305 in the last three months. 24.67% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on GLRE. Wall Street Zen upgraded Greenlight Capital Re from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.
Read Our Latest Research Report on GLRE
About Greenlight Capital Re
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.
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