Ian Isaacs Sells 9,230 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 9,230 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $16.33, for a total value of $150,725.90. Following the completion of the transaction, the director directly owned 60,191 shares of the company’s stock, valued at $982,919.03. This trade represents a 13.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $27,318.72.

Greenlight Capital Re Stock Down 2.7%

GLRE stock opened at $16.08 on Friday. The stock has a market cap of $533.31 million, a P/E ratio of 6.78 and a beta of 0.33. 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, Ltd. has a twelve month low of $11.56 and a twelve month high of $19.39. The company’s 50 day moving average is $17.03 and its two-hundred day moving average is $15.64.

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 the consensus estimate of $1.25 by ($0.20). The company had revenue of $189.66 million during the quarter, compared to analyst estimates of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. Research analysts expect that Greenlight Capital Re, Ltd. will post 1.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Greenlight Capital Re

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in Greenlight Capital Re by 61.1% in the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 17,029 shares during the period. Empowered Funds LLC boosted its stake in shares of Greenlight Capital Re by 8.3% during the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock worth $1,596,000 after buying an additional 9,066 shares during the period. Jane Street Group LLC purchased a new position in shares of Greenlight Capital Re during the first quarter worth about $335,000. First Trust Advisors LP increased its position in Greenlight Capital Re by 3.2% in the 2nd quarter. First Trust Advisors LP now owns 81,531 shares of the financial services provider’s stock valued at $1,172,000 after acquiring an additional 2,553 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in 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 acquiring an additional 2,180 shares during the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

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.