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

Greenlight Capital Re (NASDAQ:GLRE) announced its earnings results on Monday. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.36, RTT News reports. Greenlight Capital Re had a return on equity of 14.21% and a net margin of 12.38%. The business had revenue of $188.01 million during the quarter. During the same period in the previous year, the company earned $0.39 earnings per share.

Greenlight Capital Re Price Performance

Greenlight Capital Re stock traded down $0.53 during midday trading on Thursday, reaching $14.95. The company had a trading volume of 83,866 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 firm’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $13.24. 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 company has a market capitalization of $528.03 million, a P/E ratio of 6.14 and a beta of 0.85.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 7,159 shares of Greenlight Capital Re stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $13.81, for a total value of $98,865.79. Following the sale, the director now directly owns 86,984 shares of the company’s stock, valued at $1,201,249.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.79% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.