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

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) posted its quarterly earnings data 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. The firm 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 previous year, the firm posted $0.39 earnings per share.

Greenlight Capital Re Stock Up 7.6 %

Shares of GLRE stock traded up $1.03 during trading on Tuesday, hitting $14.59. 199,471 shares of the company were exchanged, compared to its average volume of 82,843. The firm has a market capitalization of $515.33 million, a price-to-earnings ratio of 7.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00. The business's 50-day simple moving average is $13.72 and its 200 day simple moving average is $13.21. Greenlight Capital Re has a twelve month low of $10.49 and a twelve month high of $14.78.

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 transaction, the director now directly owns 86,984 shares in the company, valued at $1,201,249.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 22.79% of the company's stock.

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.

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.