Greenlight Capital Re (NASDAQ:GLRE) Cut to Hold at StockNews.com

StockNews.com lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research note released on Wednesday morning.

Greenlight Capital Re Stock Performance

Shares of NASDAQ GLRE opened at $14.12 on Wednesday. The stock has a market cap of $491.80 million, a PE ratio of 5.60 and a beta of 0.89. Greenlight Capital Re has a 1 year low of $10.96 and a 1 year high of $15.82. The firm has a fifty day moving average price of $14.37 and a 200-day moving average price of $13.78. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. The business had revenue of $188.01 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same quarter in the previous year, the company posted $0.39 EPS.

Institutional Trading of Greenlight Capital Re

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWA Asset Management Group LLC purchased a new stake in Greenlight Capital Re during the 3rd quarter valued at approximately $4,972,000. Private Management Group Inc. boosted its position in shares of Greenlight Capital Re by 27.8% during the third quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after acquiring an additional 172,523 shares during the last quarter. American Century Companies Inc. grew its stake in Greenlight Capital Re by 36.3% during the second quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock valued at $4,543,000 after acquiring an additional 92,364 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re in the 3rd quarter valued at $1,188,000. Finally, Bank of Montreal Can purchased a new stake in Greenlight Capital Re in the 2nd quarter worth $894,000. Institutional investors own 41.52% of the company’s stock.

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.