Greenlight Capital Re (NASDAQ:GLRE) Issues Earnings Results, Beats Estimates By $0.36 EPS

Greenlight Capital Re (NASDAQ:GLRE) issued its earnings results on Monday. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.36, RTT News reports. The company had revenue of $188.01 million for the quarter. Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%. During the same quarter in the prior year, the business posted $0.39 EPS.

Greenlight Capital Re Stock Performance

Shares of GLRE traded up $0.89 on Wednesday, reaching $15.48. The company’s stock had a trading volume of 318,937 shares, compared to its average volume of 83,941. Greenlight Capital Re has a 12-month low of $10.49 and a 12-month high of $15.82. The stock has a market capitalization of $546.77 million, a P/E ratio of 8.15 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.00 and a quick ratio of 3.00. The stock’s 50 day simple moving average is $13.77 and its two-hundred day simple moving average is $13.24.

Analysts Set New Price Targets

Separately, StockNews.com cut Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 7,159 shares of the business’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the sale, the director now owns 86,984 shares of the company’s stock, valued at $1,201,249.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.79% of the company’s stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.