Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) posted its quarterly earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.04, Morningstar.com reports. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. The firm had revenue of $121.48 million for the quarter, compared to the consensus estimate of $139.90 million.
Greenlight Reinsurance (NASDAQ:GLRE) traded down 0.45% during mid-day trading on Friday, reaching $22.20. The company’s stock had a trading volume of 151,596 shares. The firm has a market capitalization of $828.97 million, a P/E ratio of 15.91 and a beta of 0.77. Greenlight Reinsurance has a 52 week low of $19.25 and a 52 week high of $24.10. The firm’s 50 day moving average price is $21.73 and its 200 day moving average price is $21.54.
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A number of analysts recently weighed in on the company. TheStreet downgraded Greenlight Reinsurance from a “b-” rating to a “c+” rating in a research note on Tuesday, May 9th. ValuEngine upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. BidaskClub upgraded Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded Greenlight Reinsurance from a “hold” rating to a “strong sell” rating in a research report on Monday, June 5th.
In other news, Director Leonard R. Goldberg sold 1,754 shares of Greenlight Reinsurance stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total transaction of $39,921.04. Following the transaction, the director now directly owns 170,021 shares in the company, valued at approximately $3,869,677.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leonard R. Goldberg sold 1,659 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total value of $37,742.25. Following the sale, the director now directly owns 170,021 shares of the company’s stock, valued at $3,867,977.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,066 shares of company stock worth $181,317. 21.81% of the stock is owned by insiders.
Greenlight Reinsurance Company Profile
Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.
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