Greenlight Capital Re, Ltd. (NASDAQ:GLRE – Get Free Report) COO Patrick O’brien sold 3,026 shares of Greenlight Capital Re stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $16.36, for a total value of $49,505.36. Following the completion of the transaction, the chief operating officer directly owned 208,633 shares of the company’s stock, valued at $3,413,235.88. This represents a 1.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Greenlight Capital Re Stock Up 4.0%
Shares of NASDAQ:GLRE opened at $16.73 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company’s 50-day moving average price is $17.00 and its two-hundred day moving average price is $15.65. 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 firm has a market cap of $554.93 million, a P/E ratio of 7.06 and a beta of 0.33.
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, research analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Get Our Latest Analysis on Greenlight Capital Re
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. acquired a new position in Greenlight Capital Re in the fourth quarter valued at approximately $2,480,000. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 12.8% in the third quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock valued at $15,186,000 after acquiring an additional 136,041 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after acquiring an additional 62,707 shares during the period. Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Greenlight Capital Re during the 4th quarter worth $2,479,000. Finally, Arrowstreet Capital Limited Partnership raised its position 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 valued at $2,210,000 after acquiring an additional 50,099 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
- Five stocks we like better than Greenlight Capital Re
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Receive News & Ratings for Greenlight Capital Re Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlight Capital Re and related companies with MarketBeat.com's FREE daily email newsletter.
