Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Director Sells 5,150 Shares of Stock

Key Points

• Director Ian Isaacs sold 5,150 GLRE shares at an average price of $14.90, generating $76,735 and reducing his direct ownership by 11.94% to 37,992 shares.
• Isaacs has made several additional sales since late August, totaling 24,? shares across the reported transactions, while Greenlight Capital Re stock traded near $14.79—below its 50-day and 200-day moving averages.
• Greenlight Capital Re recently missed quarterly earnings and revenue expectations, and analysts maintain a consensus “Hold” rating; institutional investors own approximately 41.52% of the company.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) Director Ian Isaacs sold 5,150 shares of the company's stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $14.90, for a total value of $76,735.00. Following the transaction, the director directly owned 37,992 shares in the company, valued at $566,080.80. This represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, September 25th, Ian Isaacs sold 10,000 shares of Greenlight Capital Re stock. The shares were sold at an average price of $14.95, for a total value of $149,500.00.
• On Monday, September 14th, Ian Isaacs sold 4,850 shares of Greenlight Capital Re stock. The stock was sold at an average price of $15.13, for a total value 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 value of $62,512.68.
• 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 transaction of $14,596.78.

Greenlight Capital Re Stock Performance

Shares of Greenlight Capital Re stock traded down $0.03 during midday trading on Tuesday, hitting $14.79. The company had a trading volume of 43,221 shares, compared to its average volume of 167,855. The company has a fifty day simple moving average of $15.61 and a 200 day simple moving average of $16.49. The stock has a market cap of $482.58 million, a price-to-earnings ratio of 10.06 and a beta of 0.32. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. Greenlight Capital Re, Ltd. has a 12-month low of $11.56 and a 12-month high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last released its 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 return on equity of 7.28% and a net margin of 7.47%.The company had revenue of $137.46 million for the quarter, compared to analysts' expectations of $165.31 million. As a group, analysts predict that Greenlight Capital Re, Ltd. will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Greenlight Capital Re

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Management Group Inc. grew its holdings in shares of Greenlight Capital Re by 25.6% during 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. Renaissance Technologies LLC acquired a new position in Greenlight Capital Re in the first quarter valued at about $1,343,000. Hillsdale Investment Management Inc. purchased a new position in Greenlight Capital Re during the first quarter worth about $1,117,000. Arrowstreet Capital Limited Partnership increased its position in shares of Greenlight Capital Re by 64.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider's stock valued at $2,210,000 after acquiring an additional 50,099 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Greenlight Capital Re in the 1st quarter valued at approximately $813,000. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GLRE shares. Weiss Ratings downgraded Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. Wall Street Zen cut Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Greenlight Capital Re Company Profile

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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