Greenlight Capital Re, Ltd. (NASDAQ:GLRE – Get Free Report) insider Richard Paul Strommer sold 25,000 shares of Greenlight Capital Re stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $16.40, for a total value of $410,000.00. Following the completion of the sale, the insider owned 47,648 shares in the company, valued at approximately $781,427.20. This represents a 34.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Greenlight Capital Re Stock Performance
GLRE stock opened at $16.08 on Friday. The company has a market capitalization of $524.85 million, a P/E ratio of 9.46 and a beta of 0.28. The business has a 50-day moving average price of $15.05 and a 200 day moving average price of $15.85. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. Greenlight Capital Re, Ltd. has a 1-year low of $12.43 and a 1-year high of $19.39.
Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.35. Greenlight Capital Re had a net margin of 8.56% and a return on equity of 8.20%. The company had revenue of $148.29 million during the quarter. As a group, equities research analysts forecast that Greenlight Capital Re, Ltd. will post 0.50 EPS for the current fiscal year.
Institutional Trading of Greenlight Capital Re
Institutional investors have recently modified their holdings of the company. Bfsg LLC raised its stake in shares of Greenlight Capital Re by 11.0% in the 3rd quarter. Bfsg LLC now owns 13,120 shares of the financial services provider’s stock valued at $190,000 after buying an additional 1,300 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Greenlight Capital Re by 3,773.3% in 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 buying an additional 1,698 shares during the period. Engineers Gate Manager LP boosted its holdings in Greenlight Capital Re by 9.1% during the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 1,705 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Greenlight Capital Re by 14.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider’s stock valued at $310,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its holdings in shares of Greenlight Capital Re by 10.9% during the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after acquiring an additional 6,178 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.
Wall Street Analyst Weigh In
GLRE has been the subject of a number of recent research reports. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. Wall Street Zen raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Greenlight Capital Re presently has a consensus rating of “Moderate Buy”.
View Our Latest Report on Greenlight Capital Re
Greenlight Capital Re Company Profile
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.
Read More
- Five stocks we like better than Greenlight Capital Re
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
- Airbnb Defied a Brutal Tech Sell-Off, But Can Its Post-Earnings Rally Last?
- MarketBeat Week in Review – 11/2 – 11/6
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.
