Joseph Platt, Jr. Sells 12,000 Shares of Greenlight Capital Re (NASDAQ:GLRE) Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $17.50, for a total value of $210,000.00. Following the completion of the transaction, the director owned 35,360 shares of the company’s stock, valued at $618,800. The trade was a 25.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Greenlight Capital Re Price Performance

GLRE stock traded up $0.33 during midday trading on Monday, hitting $17.85. The company’s stock had a trading volume of 61,120 shares, compared to its average volume of 176,775. Greenlight Capital Re, Ltd. has a 12 month low of $11.56 and a 12 month high of $19.39. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $592.08 million, a price-to-earnings ratio of 7.53 and a beta of 0.38. The company has a 50 day moving average of $17.32 and a two-hundred day moving average of $14.97.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $160.88 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of Greenlight Capital Re by 3,773.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,698 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Greenlight Capital Re by 7,213.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of 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 valued at $49,000 after acquiring an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of 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 valued at $54,000 after acquiring an additional 2,749 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Greenlight Capital Re by 12.8% during 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 buying an additional 1,296 shares during the period. 41.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GLRE has been the subject of several recent analyst reports. Weiss Ratings upgraded 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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Greenlight Capital Re currently has a consensus 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.