Greenlight Capital Re (NASDAQ:GLRE) Stock: Insider Ian Isaacs Sells 10,000 Shares

Key Points

• Director Ian Isaacs sold 10,000 Greenlight Capital Re shares at an average price of $14.95, reducing his direct stake by 18.82% to 43,142 shares. The sale followed several additional insider sales since late August.
• GLRE shares fell 0.2% to $14.79, below their 50-day and 200-day moving averages. The stock has traded between $11.56 and $19.39 over the past year and has a market capitalization of approximately $482.6 million.
• The company’s latest quarterly results missed expectations, with a loss of $0.89 per share versus the expected loss of $0.35 and revenue of $137.46 million versus the $165.31 million consensus estimate. Analysts currently have an average “Hold” rating.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 10,000 shares of Greenlight Capital Re stock in a transaction dated 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. This represents a 18.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, September 28th, Ian Isaacs sold 5,150 shares of Greenlight Capital Re stock. The shares were sold at an average price of $14.90, for a total transaction of $76,735.00.
• On Monday, September 14th, Ian Isaacs sold 4,850 shares of Greenlight Capital Re stock. The shares were sold at an average price of $15.13, for a total transaction of $73,380.50.
• On Friday, August 28th, Ian Isaacs sold 4,054 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.42, for a total transaction of $62,512.68.
• On Thursday, August 27th, Ian Isaacs sold 946 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.43, for a total transaction of $14,596.78.

Greenlight Capital Re Stock Down 0.2%

Shares of NASDAQ GLRE traded down $0.03 during midday trading on Tuesday, hitting $14.79. The stock had a trading volume of 43,221 shares, compared to its average volume of 167,855. The business's 50 day moving average is $15.61 and its 200-day moving average is $16.49. Greenlight Capital Re, Ltd. has a 52 week low of $11.56 and a 52 week high of $19.39. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $482.58 million, a P/E ratio of 10.06 and a beta of 0.32.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on GLRE. Wall Street Zen lowered Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Weiss Ratings cut Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of "Hold".

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its stake in shares of Greenlight Capital Re by 9.1% in the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider's stock worth $331,000 after buying an additional 1,705 shares during the last quarter. 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 boosted its position 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 worth $3,078,000 after purchasing an additional 15,845 shares during the last quarter. 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.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. is a specialty property and casualty reinsurance company headquartered in the Cayman Islands. Through its operating subsidiaries, the company provides reinsurance capacity to insurance companies and other risk-bearing organizations, helping them manage and transfer portions of their underwriting exposure.

Its business has included customized reinsurance arrangements across property, casualty and specialty lines. These arrangements may include quota-share and excess-of-loss structures, allowing clients to address specific risks, expand underwriting capacity or manage the volatility of their insurance portfolios.

Founded in 2004, Greenlight Capital Re has operated through entities in the Cayman Islands and Ireland and has served clients in multiple international insurance markets.

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