Revenue Update on Greenlight Capital Re Ltd.(NASDAQ:GLRE)

Greenlight Capital Re Ltd.(NASDAQ:GLRE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $188.735M. Analysts estimated a revenue of $166.640M. The revenues were 13.26% above the estimates. Earnings per share were $1.31. The reported EPS was below estimates by -13.82%. Analysts had estimated an EPS of $1.52.

Greenlight Capital Re Ltd. (GLRE) shares turned negative on Wednesdays trading session with the shares closing down -0.1 points or -0.43% at a volume of 91,704. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $23.4. The peak price level was also seen at $23.4 while the days lowest was $23.05. Finally the shares closed at $23.3. The 52-week high of the shares is $24.1 while the 52-week low is $18.79. According to the latest information available, the market cap of the company is $871 M.

Several Insider Transactions has been reported to the SEC. On Oct 5, 2016, Leonard R Goldberg (director) sold 5,700 shares at $20.62 per share price.Also, On Sep 8, 2016, Ian Isaacs (director) sold 12,000 shares at $21.45 per share price.On Aug 15, 2016, Barton Hedges (Chief Executive Officer) sold 50,000 shares at $20.39 per share price, according to the Form-4 filing with the securities and exchange commission.

Greenlight Capital Re Ltd. (GLRE) is a property and casualty reinsurer holding company. The Company’s wholly owned subsidiaries include Greenlight Reinsurance Ltd (Greenlight Re) Greenlight Reinsurance Ireland Ltd. (GRIL) and Verdant Holding Company Ltd. (Verdant). The Company’s underwriting operations are classified into two categories: frequency business contracts containing a number of small losses emanating from multiple events; and severity business contracts with the potential for losses emanating from one event or multiple events. GLRE is focused on offering customized reinsurance solutions to customers. Greenlight Re provides multi-line property and casualty reinsurance and GRIL is engaged in writing property and casualty reinsurance business. Verdant makes strategic investments in a select group of property and casualty insurers and general agents in the United States.

Add Comment