Insider Selling: Greenlight Capital Re (NASDAQ:GLRE) Insider Sells 13,500 Shares

Key Points

• Greenlight Capital Re insider Sherry Diaz sold 13,500 shares at an average price of $15.08, generating $203,580. After the sale, Diaz retained 86,879 shares, a 13.45% reduction in her position.
• GLRE shares closed at $15.02, near the lower half of their 52-week range of $11.56 to $19.39. The company recently reported a quarterly loss of $0.89 per share and revenue of $137.46 million, missing analyst expectations on both measures.
• Analyst coverage remains cautious, with the consensus rating at “Hold”; institutional investors own approximately 41.52% of the company.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) insider Sherry Diaz sold 13,500 shares of Greenlight Capital Re stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $15.08, for a total transaction of $203,580.00. Following the completion of the transaction, the insider directly owned 86,879 shares in the company, valued at $1,310,135.32. This represents a 13.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Greenlight Capital Re Price Performance

Shares of GLRE traded down $0.03 during trading hours on Friday, hitting $15.02. 58,334 shares of the company were exchanged, compared to its average volume of 168,416. Greenlight Capital Re, Ltd. has a one year low of $11.56 and a one year high of $19.39. The company has a market capitalization of $490.25 million, a PE ratio of 10.22 and a beta of 0.32. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. The firm has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $16.45.

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

Institutional Trading of Greenlight Capital Re

A number of large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in shares of Greenlight Capital Re by 3,773.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider's stock worth $30,000 after purchasing an additional 1,698 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Greenlight Capital Re by 14.8% in the first quarter. Janney Montgomery Scott LLC now owns 17,921 shares of the financial services provider's stock valued at $310,000 after acquiring an additional 2,309 shares during the last quarter. Engineers Gate Manager LP boosted its holdings 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 acquiring an additional 1,705 shares in the last quarter. Inceptionr LLC acquired a new stake in Greenlight Capital Re during the 1st quarter valued at $369,000. Finally, Hsbc Holdings PLC bought a new position in Greenlight Capital Re in the 1st quarter valued at $813,000. 41.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GLRE has been the subject of a number of research reports. Zacks Research raised shares of Greenlight Capital Re to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of Greenlight Capital Re from a "buy (b)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered Greenlight Capital Re from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company 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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