Greenlight Capital Re (NASDAQ:GLRE) Issues Quarterly Earnings Results

Key Points

• Greenlight Capital Re reported a quarterly earnings per share (EPS) of $0.01, with a net margin of 6.33% and a return on equity of 6.99%.
• Insider transactions included Director Ian Isaacs selling 13,000 shares at an average price of $14.92, resulting in a 15.39% decrease in his holdings.
• Recent analyst activity saw Wall Street Zen downgrade Greenlight Capital Re from a "buy" to a "hold" rating on July 5th.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) posted its quarterly earnings data on Monday. The financial services provider reported $0.01 EPS for the quarter, Zacks reports. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%.

Greenlight Capital Re Price Performance

GLRE stock traded up $0.07 during mid-day trading on Monday, reaching $12.83. 109,423 shares of the company traded hands, compared to its average volume of 108,167. The company has a fifty day moving average price of $13.97 and a 200-day moving average price of $13.63. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.90 and a quick ratio of 2.90. Greenlight Capital Re has a 52-week low of $11.95 and a 52-week high of $15.82. The company has a market capitalization of $443.40 million, a P/E ratio of 9.95 and a beta of 0.67.

Insider Buying and Selling

In other Greenlight Capital Re news, Director Ian Isaacs sold 13,000 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $14.92, for a total value of $193,960.00. Following the completion of the transaction, the director owned 71,484 shares of the company's stock, valued at $1,066,541.28. The trade was a 15.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Patrick O'brien sold 5,000 shares of Greenlight Capital Re stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $13.22, for a total transaction of $66,100.00. Following the sale, the chief operating officer directly owned 170,425 shares of the company's stock, valued at $2,253,018.50. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,500 shares of company stock worth $361,160 in the last ninety days. 23.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Large investors have recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Greenlight Capital Re by 8.3% in the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider's stock worth $1,596,000 after acquiring an additional 9,066 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Greenlight Capital Re by 61.1% during the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider's stock valued at $608,000 after buying an additional 17,029 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Greenlight Capital Re in the 1st quarter valued at about $335,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.

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