Greenlight Reinsurance, Ltd. (GLRE) Director Sells $39,921.04 in Stock
Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) Director Leonard R. Goldberg sold 1,754 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total value of $39,921.04. Following the completion of the sale, the director now directly owns 170,021 shares of the company’s stock, valued at $3,869,677.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Greenlight Reinsurance, Ltd. (GLRE) traded down 0.22% during trading on Thursday, reaching $22.65. The company’s stock had a trading volume of 3,715 shares. The company has a market capitalization of $845.77 million, a price-to-earnings ratio of 16.24 and a beta of 0.77. Greenlight Reinsurance, Ltd. has a one year low of $19.25 and a one year high of $24.10. The firm’s 50-day moving average price is $21.65 and its 200-day moving average price is $21.54.
Greenlight Reinsurance (NASDAQ:GLRE) last announced its earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.04. The business had revenue of $121.48 million during the quarter, compared to analyst estimates of $139.90 million. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. On average, equities analysts anticipate that Greenlight Reinsurance, Ltd. will post $0.75 earnings per share for the current year.
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Several brokerages have recently commented on GLRE. ValuEngine downgraded Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. TheStreet downgraded Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research report on Tuesday, May 9th. Zacks Investment Research raised Greenlight Reinsurance from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Finally, BidaskClub downgraded Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
Several large investors have recently modified their holdings of GLRE. Norges Bank acquired a new stake in shares of Greenlight Reinsurance during the fourth quarter worth about $6,623,000. Teachers Advisors LLC increased its position in shares of Greenlight Reinsurance by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 50,254 shares of the financial services provider’s stock valued at $1,146,000 after buying an additional 3,997 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Greenlight Reinsurance during the first quarter valued at $239,000. Advisory Services Network LLC purchased a new position in shares of Greenlight Reinsurance during the first quarter valued at $237,000. Finally, Usca Ria LLC increased its position in shares of Greenlight Reinsurance by 7.9% in the first quarter. Usca Ria LLC now owns 24,600 shares of the financial services provider’s stock valued at $544,000 after buying an additional 1,800 shares in the last quarter. 47.72% of the stock is owned by hedge funds and other institutional investors.
Greenlight Reinsurance Company Profile
Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.
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