Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $83,200.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $16.64, for a total value of $83,200.00. Following the transaction, the director directly owned 55,191 shares of the company’s stock, valued at $918,378.24. The trade was a 8.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ian Isaacs also recently made the following trade(s):

• On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.33, for a total transaction of $150,725.90.
• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.92, for a total transaction of $27,318.72.

Greenlight Capital Re Price Performance

Shares of NASDAQ:GLRE opened at $16.73 on Monday. The company has a 50 day moving average of $17.00 and a 200 day moving average of $15.66. 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 stock has a market cap of $554.87 million, a P/E ratio of 7.06 and a beta of 0.33. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. As a group, sell-side analysts forecast that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLRE has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Private Management Group Inc. lifted its stake in Greenlight Capital Re by 25.6% during the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after purchasing an additional 306,468 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Greenlight Capital Re by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock worth $18,667,000 after purchasing an additional 49,929 shares in the last quarter. CWA Asset Management Group LLC increased its position in shares of 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 valued at $14,246,000 after purchasing an additional 62,707 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after purchasing an additional 2,180 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after buying an additional 13,430 shares in the last quarter. Institutional investors own 41.52% of the company’s stock.

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.