Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells $149,500.00 in Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Director Ian Isaacs sold 10,000 shares of the stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $14.95, for a total transaction of $149,500.00. Following the completion of the transaction, the director owned 43,142 shares in the company, valued at $644,972.90. This trade represents a 18.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, September 28th, Ian Isaacs sold 5,150 shares of Greenlight Capital Re stock. The shares were sold at an average price of $14.90, for a total transaction of $76,735.00.
• On Monday, September 14th, Ian Isaacs sold 4,850 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.13, for a total transaction of $73,380.50.
• On Friday, August 28th, Ian Isaacs sold 4,054 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.42, for a total transaction of $62,512.68.
• On Thursday, August 27th, Ian Isaacs sold 946 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.43, for a total transaction of $14,596.78.

Greenlight Capital Re Stock Performance

Shares of GLRE stock traded down $0.03 during mid-day trading on Tuesday, reaching $14.79. 43,221 shares of the company’s stock traded hands, compared to its average volume of 167,855. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43. The firm has a market capitalization of $482.58 million, a PE ratio of 10.06 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 firm has a 50 day moving average price of $15.61 and a two-hundred day moving average price of $16.49.

Greenlight Capital Re (NASDAQ:GLRE) last announced 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). The company had revenue of $137.46 million during the quarter, compared to the consensus estimate of $165.31 million. Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. On average, research analysts forecast that Greenlight Capital Re, Ltd. will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Greenlight Capital Re

A number of hedge funds have recently made changes to their positions in GLRE. PNC Financial Services Group Inc. raised its stake in 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 purchasing an additional 1,698 shares during the period. Janney Montgomery Scott LLC grew its holdings in Greenlight Capital Re by 14.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider’s stock valued at $310,000 after buying an additional 2,309 shares in the last quarter. Engineers Gate Manager LP grew its holdings in Greenlight Capital Re by 9.1% during the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock valued at $331,000 after buying an additional 1,705 shares in the last quarter. Inceptionr LLC bought a new stake in shares of Greenlight Capital Re during the first quarter valued at approximately $369,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Greenlight Capital Re during the first quarter valued at approximately $813,000. Institutional investors own 41.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wall Street Zen cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Weiss Ratings lowered shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

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.