Greenlight Capital Re (NASDAQ:GLRE) Issues Earnings Results, Beats Estimates By $0.36 EPS

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) issued its quarterly earnings results on Monday. The financial services provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.36, Zacks reports. Greenlight Capital Re had a net margin of 5.37% and a return on equity of 5.75%. The company had revenue of $179.63 million for the quarter.

Greenlight Capital Re Stock Performance

Shares of NASDAQ:GLRE traded down $0.04 during trading on Friday, reaching $12.92. 27,451 shares of the company's stock traded hands, compared to its average volume of 107,608. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.83 and a quick ratio of 2.90. The company has a 50 day moving average of $13.89 and a 200-day moving average of $13.61. Greenlight Capital Re has a 12 month low of $12.14 and a 12 month high of $15.82. The stock has a market capitalization of $446.38 million, a P/E ratio of 12.10 and a beta of 0.67.

Insiders Place Their Bets

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

Institutional Trading of Greenlight Capital Re

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in Greenlight Capital Re by 8.3% in the first quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider's stock valued at $1,596,000 after acquiring an additional 9,066 shares during the last quarter. AQR Capital Management LLC boosted its position in Greenlight Capital Re by 61.1% in the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider's stock worth $608,000 after purchasing an additional 17,029 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Greenlight Capital Re during the first quarter valued at about $335,000. 41.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Greenlight Capital Re

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.