Greenlight Capital Re (NASDAQ:GLRE) Insider Sells 25,000 Shares of Stock

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) insider Richard Paul Strommer sold 25,000 shares of Greenlight Capital Re stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $16.40, for a total transaction of $410,000.00. Following the transaction, the insider owned 47,648 shares in the company, valued at approximately $781,427.20. This trade represents a 34.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Greenlight Capital Re Price Performance

NASDAQ:GLRE traded down $0.32 on Friday, reaching $16.06. 32,654 shares of the company’s stock traded hands, compared to its average volume of 160,873. The stock has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $15.84. Greenlight Capital Re, Ltd. has a 12 month low of $12.43 and a 12 month high of $19.39. The firm has a market cap of $524.17 million, a PE ratio of 9.45 and a beta of 0.28. The company has a quick ratio of 2.43, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Monday, November 2nd. The financial services provider reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.35. Greenlight Capital Re had a return on equity of 8.26% and a net margin of 8.56%. The firm had revenue of $148.29 million during the quarter. Equities research analysts forecast that Greenlight Capital Re, Ltd. will post 0.50 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GLRE. Weiss Ratings upgraded shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. Wall Street Zen raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Trading of Greenlight Capital Re

A number of hedge funds and other institutional investors have recently bought and sold shares of GLRE. Private Management Group Inc. boosted its position in Greenlight Capital Re by 10.9% in the 3rd quarter. Private Management Group Inc. now owns 1,626,461 shares of the financial services provider’s stock valued at $23,584,000 after buying an additional 159,686 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Greenlight Capital Re in the 1st quarter valued at about $1,343,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Greenlight Capital Re in the 1st quarter worth approximately $1,117,000. Arrowstreet Capital Limited Partnership raised its stake in Greenlight Capital Re by 64.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after buying an additional 50,099 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Greenlight Capital Re during the 1st quarter worth $813,000. Hedge funds and other institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.