Greenlight Reinsurance (GLRE) Receiving Somewhat Favorable Press Coverage, Analysis Shows

Headlines about Greenlight Reinsurance (NASDAQ:GLRE) have trended somewhat positive this week, according to Accern. The research group identifies negative and positive media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Greenlight Reinsurance earned a coverage optimism score of 0.06 on Accern’s scale. Accern also assigned media stories about the financial services provider an impact score of 46.2774302696706 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.

Greenlight Reinsurance (GLRE) traded down 1.11% during trading on Monday, hitting $22.35. The stock had a trading volume of 23,674 shares. Greenlight Reinsurance has a 1-year low of $19.25 and a 1-year high of $24.10. The firm has a market capitalization of $834.57 million, a PE ratio of 16.02 and a beta of 0.75. The firm has a 50 day moving average price of $21.85 and a 200-day moving average price of $21.38.

Greenlight Reinsurance (NASDAQ:GLRE) last issued its earnings results on Monday, July 31st. The financial services provider reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.04. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. The business had revenue of $121.48 million for the quarter, compared to analysts’ expectations of $139.90 million. On average, equities research analysts expect that Greenlight Reinsurance will post $0.59 EPS for the current year.

Several equities analysts have recently commented on the company. ValuEngine raised Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Zacks Investment Research downgraded Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Finally, BidaskClub raised Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

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In other news, Director Leonard R. Goldberg sold 1,659 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $22.75, for a total transaction of $37,742.25. Following the completion of the transaction, the director now directly owns 170,021 shares in the company, valued at approximately $3,867,977.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leonard R. Goldberg sold 1,754 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total transaction of $39,921.04. Following the transaction, the director now owns 170,021 shares of the company’s stock, valued at $3,869,677.96. The disclosure for this sale can be found here. Insiders have sold a total of 6,468 shares of company stock worth $147,928 in the last three months. Insiders own 21.81% of the company’s stock.

About Greenlight Reinsurance

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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