Joseph Platt, Jr. Sells 820 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 820 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $17.50, for a total value of $14,350.00. Following the transaction, the director owned 47,360 shares in the company, valued at $828,800. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Greenlight Capital Re Stock Performance

NASDAQ GLRE opened at $17.52 on Friday. The business’s 50-day moving average price is $17.32 and its 200 day moving average price is $14.95. Greenlight Capital Re, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39. The company has a market capitalization of $581.14 million, a PE ratio of 7.39 and a beta of 0.38. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.01.

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 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 business had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million.

Hedge Funds Weigh In On Greenlight Capital Re

A number of large investors have recently modified their holdings of GLRE. PNC Financial Services Group Inc. raised its holdings in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,698 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Greenlight Capital Re by 7,213.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after buying an additional 3,174 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Greenlight Capital Re by 184.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,749 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,296 shares during the period. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on GLRE shares. Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Wall Street Zen downgraded Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Greenlight Capital Re Company Profile

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.