Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) – Research analysts at Langen Mcalenn lifted their Q3 2017 earnings per share (EPS) estimates for Greenlight Reinsurance in a report issued on Monday. Langen Mcalenn analyst R. Glasspiegel now anticipates that the financial services provider will post earnings per share of $0.65 for the quarter, up from their previous forecast of ($0.57). Langen Mcalenn also issued estimates for Greenlight Reinsurance’s FY2017 earnings at $0.50 EPS.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. The business had revenue of $121.48 million for the quarter, compared to analyst estimates of $139.90 million.

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Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research lowered shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, BidaskClub lowered shares of Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th.

Shares of Greenlight Reinsurance (NASDAQ GLRE) opened at 22.20 on Thursday. Greenlight Reinsurance has a 1-year low of $19.25 and a 1-year high of $24.10. The company has a 50-day moving average price of $21.56 and a 200-day moving average price of $21.31. The stock has a market cap of $828.97 million, a price-to-earnings ratio of 15.91 and a beta of 0.74.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Greenlight Reinsurance by 3.0% in the second quarter. Vanguard Group Inc. now owns 2,513,766 shares of the financial services provider’s stock valued at $52,538,000 after buying an additional 73,367 shares in the last quarter. Fiduciary Management Inc. WI lifted its position in shares of Greenlight Reinsurance by 0.6% during the second quarter. Fiduciary Management Inc. WI now owns 2,065,537 shares of the financial services provider’s stock worth $43,170,000 after purchasing an additional 11,692 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Greenlight Reinsurance by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,937,805 shares of the financial services provider’s stock worth $40,500,000 after purchasing an additional 145,473 shares in the last quarter. Morgan Stanley lifted its position in shares of Greenlight Reinsurance by 6.0% during the first quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock worth $19,879,000 after purchasing an additional 50,646 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Greenlight Reinsurance by 4.9% during the second quarter. State Street Corp now owns 600,463 shares of the financial services provider’s stock worth $12,549,000 after purchasing an additional 28,255 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.

In other news, Director Leonard R. Goldberg sold 1,754 shares of Greenlight Reinsurance stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total transaction of $39,921.04. Following the sale, the director now directly owns 170,021 shares in the company, valued at approximately $3,869,677.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sherry Diaz sold 3,055 shares of Greenlight Reinsurance stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $23.00, for a total transaction of $70,265.00. Following the sale, the insider now owns 33,500 shares in the company, valued at $770,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,468 shares of company stock worth $147,928. Insiders own 21.81% of the company’s stock.

About Greenlight Reinsurance

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.

Earnings History and Estimates for Greenlight Reinsurance (NASDAQ:GLRE)

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