Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) General Counsel Sells $129,975.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) General Counsel David Sigmon sold 7,500 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $17.33, for a total value of $129,975.00. Following the transaction, the general counsel directly owned 32,678 shares of the company’s stock, valued at approximately $566,309.74. This trade represents a 18.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Greenlight Capital Re Stock Performance

Shares of GLRE stock opened at $17.52 on Monday. The company has a market cap of $581.14 million, a price-to-earnings ratio of 7.39 and a beta of 0.38. The stock has a 50 day simple moving average of $17.32 and a 200-day simple moving average of $14.97. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. 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 issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). The business had revenue of $189.66 million for the quarter, compared to analysts’ expectations of $160.88 million. Greenlight Capital Re had a return on equity of 11.69% and a net margin of 11.47%.

Analyst Ratings Changes

Several research firms recently weighed in on GLRE. Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Wall Street Zen downgraded Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Greenlight Capital Re

Several hedge funds have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC increased its stake 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 valued at $145,000 after purchasing an additional 1,296 shares in the last quarter. BNP Paribas Financial Markets increased its position in Greenlight Capital Re by 4.9% during the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider’s stock worth $441,000 after buying an additional 1,429 shares in the last quarter. Bank of America Corp DE increased its position in Greenlight Capital Re by 3.8% during the second quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider’s stock worth $564,000 after buying an additional 1,451 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Greenlight Capital Re by 90.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,627 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Greenlight Capital Re by 3,773.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,698 shares in the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

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.