Greenlight Capital Re (NASDAQ:GLRE) Director Sells $64,240.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $16.06, for a total transaction of $64,240.00. Following the transaction, the director directly owned 51,191 shares in the company, valued at $822,127.46. This represents a 7.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.64, for a total transaction of $83,200.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.33, for a total value of $150,725.90.
• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.92, for a total value of $27,318.72.

Greenlight Capital Re Price Performance

Greenlight Capital Re stock opened at $16.73 on Monday. The firm has a market cap of $554.87 million, a PE ratio of 7.06 and a beta of 0.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The stock’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $15.66. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last released 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). The company had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. As a group, research analysts expect that Greenlight Capital Re, Ltd. will post 1.8 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research report on Tuesday, March 17th. Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen cut shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Trading of Greenlight Capital Re

Hedge funds have recently added to or reduced their stakes in the stock. Private Management Group Inc. grew its stake in shares of 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 buying an additional 306,468 shares during the last quarter. Pinnacle Associates Ltd. bought a new position in shares of Greenlight Capital Re in the 4th quarter valued at $2,480,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Greenlight Capital Re in the 4th quarter valued at $2,479,000. Millennium Management LLC boosted its holdings in shares of Greenlight Capital Re by 546.5% during the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock valued at $2,906,000 after acquiring an additional 168,486 shares in the last quarter. Finally, HRT Financial LP grew its position in Greenlight Capital Re by 459.1% during the 4th quarter. HRT Financial LP now owns 118,654 shares of the financial services provider’s stock worth $1,729,000 after acquiring an additional 97,433 shares during the last quarter. Institutional investors and hedge funds 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.