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

Greenlight Capital Re Ltd.(NASDAQ:GLRE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $87.81M. Analysts estimated a revenue of $163.61M. Earnings per share were $-1.69. Analysts had estimated an EPS of $-0.44.

Greenlight Capital Re Ltd. (GLRE) made into the market gainers list on Mondays trading session with the shares advancing 0.05% or 0.01 points. Due to strong positive momentum, the stock ended at $20.27, which is also near the day’s high of $20.47. The stock began the session at $20.25 and the volume stood at 94,310 shares. The 52-week high of the shares is $27.14 and the 52 week low is $16.05. The company has a current market capitalization of $756 M and it has 3,73,20,834 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 14, 2016, Leonard R Goldberg (director) sold 5,296 shares at $20.13 per share price.

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.

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