Private Management Group Inc. increased its holdings in shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE – Free Report) by 25.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,502,235 shares of the financial services provider’s stock after acquiring an additional 306,468 shares during the period. Private Management Group Inc.’s holdings in Greenlight Capital Re were worth $21,903,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLRE. Catawba River Capital acquired a new position in Greenlight Capital Re in the third quarter valued at about $2,542,000. Pinnacle Associates Ltd. acquired a new position in Greenlight Capital Re in the fourth quarter valued at about $2,480,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Greenlight Capital Re in the fourth quarter valued at about $2,479,000. Goldman Sachs Group Inc. boosted its position in Greenlight Capital Re by 73.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 229,630 shares of the financial services provider’s stock valued at $3,348,000 after buying an additional 96,983 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Greenlight Capital Re by 6.9% in the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after buying an additional 62,707 shares in the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Greenlight Capital Re
In other Greenlight Capital Re news, General Counsel David Sigmon sold 7,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $17.33, for a total value of $129,975.00. Following the completion of the transaction, the general counsel directly owned 32,678 shares of the company’s stock, valued at approximately $566,309.74. The trade was a 18.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 23,613 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $18.01, for a total transaction of $425,270.13. Following the completion of the transaction, the director directly owned 11,747 shares of the company’s stock, valued at approximately $211,563.47. This represents a 66.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,500 shares of company stock valued at $1,097,117. Insiders own 24.67% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on GLRE
Greenlight Capital Re Trading Down 0.3%
Shares of NASDAQ GLRE opened at $15.88 on Friday. Greenlight Capital Re, Ltd. has a 1-year low of $11.56 and a 1-year high of $19.39. The company has a market cap of $526.74 million, a PE ratio of 6.70 and a beta of 0.33. 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 company has a 50-day moving average of $17.41 and a two-hundred day moving average of $15.45.
Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last announced its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share 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 company had revenue of $189.66 million during the quarter, compared to the consensus estimate of $160.88 million. As a group, equities analysts expect that Greenlight Capital Re, Ltd. will post 2 earnings per share for the current fiscal year.
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.
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