CEO & Directors of Greenlight Capital Re Greg Richardson Buys 166% More Shares

Those following along with Greenlight Capital Re, Ltd. (NASDAQ:GLRE) will no doubt be intrigued by the recent purchase of shares by Greg Richardson, CEO & Directors of the company, who spent a stonking US$637k on stock at an average price of US$12.75. That purchase boosted their holding by 166%, which makes us wonder if the move was inspired by quietly confident deeply-felt optimism.

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The Last 12 Months Of Insider Transactions At Greenlight Capital Re

In fact, the recent purchase by Greg Richardson was the biggest purchase of Greenlight Capital Re shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$13.18. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Greenlight Capital Re share holders is that an insider was buying at near the current price. Greg Richardson was the only individual insider to buy during the last year.

All up, insiders sold more shares in Greenlight Capital Re than they bought, over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

View our latest analysis for Greenlight Capital Re

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Does Greenlight Capital Re Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Greenlight Capital Re insiders own about US$44m worth of shares. That equates to 10% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Do The Greenlight Capital Re Insider Transactions Indicate?

The recent insider purchase is heartening. But we can't say the same for the transactions over the last 12 months. The more recent transactions are a positive, but Greenlight Capital Re insiders haven't shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. So they seem pretty well aligned, overall. Along with insider transactions, I recommend checking if Greenlight Capital Re is growing revenue. This free chart of historic revenue and earnings should make that easy.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.