Greenlight Capital Re (NASDAQ:GLRE) Insider Sherry Diaz Sells 13,500 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) insider Sherry Diaz sold 13,500 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.08, for a total value of $203,580.00. Following the sale, the insider directly owned 86,879 shares of the company’s stock, valued at $1,310,135.32. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Greenlight Capital Re Stock Down 0.1%

Shares of GLRE opened at $15.03 on Friday. The firm has a market cap of $490.58 million, a P/E ratio of 10.22 and a beta of 0.32. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39. The company’s 50-day moving average price is $15.83 and its 200 day moving average price is $16.45. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. The company had revenue of $137.46 million during the quarter, compared to analyst estimates of $165.31 million. On average, sell-side analysts forecast that Greenlight Capital Re, Ltd. will post 1.25 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GLRE shares. 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. Weiss Ratings cut Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Finally, Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Greenlight Capital Re currently has an average rating of “Hold”.

Institutional Trading of Greenlight Capital Re

Institutional investors and hedge funds have recently bought and sold shares of the business. Engineers Gate Manager LP boosted its stake in shares of Greenlight Capital Re by 9.1% in the second quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 1,705 shares during the period. Wedge Capital Management L L P NC increased its stake in Greenlight Capital Re by 10.9% during the 2nd quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock worth $1,019,000 after buying an additional 6,178 shares during the period. Bank of America Corp DE increased its stake in Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after buying an additional 11,416 shares during the period. Empowered Funds LLC increased its stake in Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 15,845 shares during the period. Finally, Quantinno Capital Management LP lifted its holdings in Greenlight Capital Re by 65.9% during the 1st quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock worth $891,000 after buying an additional 20,459 shares in the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. is a specialty property and casualty reinsurance company headquartered in the Cayman Islands. Through its operating subsidiaries, the company provides reinsurance capacity to insurance companies and other risk-bearing organizations, helping them manage and transfer portions of their underwriting exposure.

Its business has included customized reinsurance arrangements across property, casualty and specialty lines. These arrangements may include quota-share and excess-of-loss structures, allowing clients to address specific risks, expand underwriting capacity or manage the volatility of their insurance portfolios.

Founded in 2004, Greenlight Capital Re has operated through entities in the Cayman Islands and Ireland and has served clients in multiple international insurance markets.