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

by · The Markets Daily

Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) announced its earnings results on Monday. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate of $0.65 by $0.36, RTT News reports. Greenlight Capital Re had a return on equity of 10.88% and a net margin of 9.60%. The company had revenue of $188.01 million for the quarter. During the same quarter in the previous year, the company earned $0.39 EPS.

Greenlight Capital Re Stock Up 4.1 %

Shares of NASDAQ GLRE traded up $0.60 during mid-day trading on Wednesday, reaching $15.19. 31,806 shares of the company’s stock traded hands, compared to its average volume of 82,606. 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 business has a 50-day simple moving average of $13.74 and a 200 day simple moving average of $13.23. The stock has a market cap of $536.53 million, a P/E ratio of 7.68 and a beta of 0.85. Greenlight Capital Re has a 1-year low of $10.49 and a 1-year high of $15.74.

Insider Activity at Greenlight Capital Re

In related news, Director Ian Isaacs sold 7,159 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $13.81, for a total value of $98,865.79. Following the transaction, the director now owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.79% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Check Out Our Latest Stock Report on GLRE

About Greenlight Capital Re

(Get Free Report)

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.

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