Greenlight Capital Re (NASDAQ:GLRE) Posts Quarterly Earnings Results, Beats Expectations By $0.35 EPS

Key Points

• Greenlight Capital Re beat earnings expectations: The company reported quarterly EPS of $0.10, exceeding the analyst consensus estimate of a $0.25 loss by $0.35. Revenue totaled $148.29 million, below expectations of $167.94 million.
• Shares edged higher: GLRE stock rose $0.43 to $15.09 during Monday trading, with a market capitalization of approximately $492.6 million and a 52-week range of $11.56 to $19.39.
• Analyst sentiment remains neutral: The stock carries an average “Hold” rating, while recent insider activity included both a director sale of 10,000 shares and a director purchase of 6,000 shares.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) announced its quarterly earnings data on Monday. The financial services provider reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.35, FiscalAI reports. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. The firm had revenue of $148.29 million for the quarter, compared to analyst estimates of $167.94 million.

Greenlight Capital Re Stock Performance

Shares of Greenlight Capital Re stock traded up $0.43 during trading on Monday, hitting $15.09. 136,289 shares of the company's stock were exchanged, compared to its average volume of 161,097. 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 business has a 50-day simple moving average of $15.00 and a 200-day simple moving average of $15.79. Greenlight Capital Re has a 52-week low of $11.56 and a 52-week high of $19.39. The stock has a market capitalization of $492.55 million, a price-to-earnings ratio of 10.27 and a beta of 0.27.

Insider Activity

In other Greenlight Capital Re news, Director Ian Isaacs sold 10,000 shares of the business's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $14.95, for a total value of $149,500.00. Following the completion of the transaction, the director directly owned 43,142 shares of the company's stock, valued at approximately $644,972.90. The trade was a 18.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leonard R. Goldberg acquired 6,000 shares of the stock in a transaction on Monday, August 10th. The stock was bought at an average price of $15.42 per share, for a total transaction of $92,520.00. Following the transaction, the director owned 36,000 shares in the company, valued at approximately $555,120. This represents a 20.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 38,500 shares of company stock valued at $580,305 in the last quarter. 24.67% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings lowered Greenlight Capital Re from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Wall Street Zen upgraded Greenlight Capital Re from a "sell" rating to a "hold" rating in a research note on Saturday. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.