Greenlight Capital Re (NASDAQ:GLRE) Director Joseph Platt Jr Sells 23,613 Shares

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Joseph Platt, Jr. sold 23,613 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $18.01, for a total transaction of $425,270.13. Following the sale, the director directly owned 11,747 shares in the company, valued at $211,563.47. The trade was a 66.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Greenlight Capital Re Stock Down 1.3%

NASDAQ:GLRE traded down $0.24 during mid-day trading on Wednesday, hitting $17.73. 117,184 shares of the company’s stock were exchanged, compared to its average volume of 177,435. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.46. The business has a fifty day moving average price of $17.47 and a 200 day moving average price of $15.05. The company has a market cap of $588.03 million, a PE ratio of 7.48 and a beta of 0.38.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 EPS 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 the consensus estimate of $160.88 million.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings raised shares of 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 shares of Greenlight Capital Re from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Greenlight Capital Re has an average rating of “Buy”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Greenlight Capital Re by 14.9% in the first 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 in the last quarter. Empowered Funds LLC raised its holdings in shares of Greenlight Capital Re by 9.8% during the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 15,845 shares during the last quarter. Quantinno Capital Management LP lifted its position in Greenlight Capital Re by 65.9% during the first quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider’s stock valued at $891,000 after purchasing an additional 20,459 shares during the period. Renaissance Technologies LLC bought a new position in Greenlight Capital Re during the first quarter valued at approximately $1,343,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Greenlight Capital Re by 64.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 50,099 shares during the period. Institutional investors 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.