Greenlight Capital Re (NASDAQ:GLRE) Director Ian Isaacs Sells 946 Shares

Key Points

• Director Ian Isaacs sold 946 GLRE shares at an average price of $15.43, generating $14,596.78 and reducing his holdings by 3.78% to 24,054 shares. He has also made several other sales recently.
• Greenlight Capital Re shares fell 0.8% to $15.25, below their 50-day and 200-day moving averages. The company’s latest quarterly results missed expectations, reporting a loss of $0.89 per share versus a $0.35 expected loss.
• Analyst sentiment is currently neutral, with Zacks Research, Weiss Ratings, and Wall Street Zen all rating the stock “Hold.” Institutional investors own approximately 41.52% of GLRE.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 946 shares of the firm's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $15.43, for a total value of $14,596.78. Following the completion of the transaction, the director owned 24,054 shares of the company's stock, valued at approximately $371,153.22. The trade was a 3.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, August 28th, Ian Isaacs sold 4,054 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.42, for a total transaction of $62,512.68.
• 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 transaction of $64,240.00.
• On Wednesday, June 24th, Ian Isaacs sold 5,000 shares of Greenlight Capital Re stock. The shares were 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 stock was sold at an average price of $16.33, for a total value 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 value of $27,318.72.

Greenlight Capital Re Stock Down 0.8%

Shares of GLRE traded down $0.12 during trading hours on Monday, hitting $15.25. The company had a trading volume of 19,467 shares, compared to its average volume of 170,701. The stock has a market capitalization of $497.76 million, a price-to-earnings ratio of 10.37 and a beta of 0.33. The firm has a fifty day moving average price of $16.20 and a 200-day moving average price of $16.35. Greenlight Capital Re, Ltd. has a 52-week low of $11.56 and a 52-week 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 announced its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.54). The firm 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%. On average, equities research analysts forecast that Greenlight Capital Re, Ltd. will post 1.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Greenlight Capital Re by 313.6% in the second quarter. California State Teachers Retirement System now owns 5,857 shares of the financial services provider's stock worth $95,000 after acquiring an additional 4,441 shares during the period. Wedge Capital Management L L P NC increased its position in Greenlight Capital Re by 10.9% during the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider's stock valued at $1,019,000 after acquiring an additional 6,178 shares during the last quarter. Bank of America Corp DE lifted its holdings in Greenlight Capital Re by 14.9% in the first quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider's stock valued at $1,523,000 after acquiring an additional 11,416 shares during the period. Empowered Funds LLC lifted its holdings in Greenlight Capital Re by 9.8% in the first quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider's stock valued at $3,078,000 after acquiring an additional 15,845 shares during the period. Finally, Quantinno Capital Management LP boosted its position in Greenlight Capital Re by 65.9% in the first quarter. Quantinno Capital Management LP now owns 51,526 shares of the financial services provider's stock worth $891,000 after purchasing an additional 20,459 shares during the last quarter. 41.52% of the stock is currently owned by hedge funds and other 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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