Greenlight Capital Re (NASDAQ:GLRE) Director Ian Isaacs Sells 4,054 Shares

Key Points

• Director Ian Isaacs sold 4,054 Greenlight Capital Re shares at an average price of $15.42, receiving $62,512.68 and reducing his direct ownership by 16.85% to 20,000 shares.
• Isaacs has made several additional sales since June, totaling more than 24,000 shares across the disclosed transactions.
• GLRE shares fell 0.8% to $15.25, while the company’s latest quarterly results missed expectations with a $0.89-per-share loss and revenue below forecasts. Analysts maintain a consensus “Hold” rating.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 4,054 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $15.42, for a total transaction of $62,512.68. Following the transaction, the director directly owned 20,000 shares of the company's stock, valued at $308,400. This represents a 16.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 27th, Ian Isaacs sold 946 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.43, for a total value of $14,596.78.
• On Thursday, June 25th, Ian Isaacs sold 4,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.06, for a total value of $64,240.00.
• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The stock was sold at an average price of $16.64, for a total value of $83,200.00.
• On Tuesday, June 23rd, Ian Isaacs sold 9,230 shares of Greenlight Capital Re stock. The shares were sold at an average price of $16.33, for a total transaction of $150,725.90.
• On Monday, June 22nd, Ian Isaacs sold 1,716 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.92, for a total transaction of $27,318.72.

Greenlight Capital Re Trading Down 0.8%

Shares of GLRE stock traded down $0.12 on Monday, hitting $15.25. 19,467 shares of the company's stock traded hands, compared to its average volume of 170,701. The stock has a market capitalization of $497.76 million, a price-to-earnings ratio of 10.38 and a beta of 0.33. The company's fifty day simple moving average is $16.20 and its 200 day simple moving average is $16.35. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.43 and a current ratio of 2.43.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The business had revenue of $137.46 million for the quarter, compared to analysts' expectations of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. Equities analysts forecast that Greenlight Capital Re, Ltd. will post 1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLRE. Zacks Research raised shares of Greenlight Capital Re to a "hold" rating in a research note on Wednesday, May 27th. Wall Street Zen cut shares of Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Finally, Weiss Ratings cut shares of Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Institutional Trading of Greenlight Capital Re

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re by 25.6% in the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider's stock worth $21,903,000 after purchasing an additional 306,468 shares during the period. Pinnacle Associates Ltd. purchased a new position in Greenlight Capital Re during the fourth quarter valued at approximately $2,480,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Greenlight Capital Re during the 4th quarter valued at $2,479,000. Millennium Management LLC boosted its holdings in Greenlight Capital Re by 546.5% in the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider's stock worth $2,906,000 after buying an additional 168,486 shares during the period. Finally, HRT Financial LP raised its holdings in Greenlight Capital Re by 459.1% during the fourth quarter. HRT Financial LP now owns 118,654 shares of the financial services provider's stock valued at $1,729,000 after acquiring an additional 97,433 shares during the period. 41.52% of the stock is currently owned by institutional investors.

Greenlight Capital Re Company Profile

Greenlight Capital Re Ltd. NASDAQ: GLRE is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent's investment platform.

The company's core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.

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