Greenlight Capital Re (NASDAQ:GLRE) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research report report published on Friday.

Greenlight Capital Re Trading Up 0.1 %

Shares of GLRE opened at $13.73 on Friday. The firm’s 50 day simple moving average is $14.40 and its 200 day simple moving average is $13.71. The company has a market capitalization of $478.22 million, a P/E ratio of 5.45 and a beta of 0.88. 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 has a 1-year low of $10.95 and a 1-year high of $15.82.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Greenlight Capital Re by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock worth $26,730,000 after acquiring an additional 48,317 shares in the last quarter. Private Management Group Inc. increased its stake in shares of Greenlight Capital Re by 27.8% in the third quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after buying an additional 172,523 shares during the period. State Street Corp increased its stake in shares of Greenlight Capital Re by 1.1% in the third quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock worth $7,861,000 after buying an additional 6,319 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Greenlight Capital Re in the third quarter worth $4,972,000. Finally, American Century Companies Inc. increased its stake in shares of Greenlight Capital Re by 36.3% in the second quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock worth $4,543,000 after buying an additional 92,364 shares during the period. 41.52% of the stock is owned by hedge funds and other institutional investors.

About Greenlight Capital Re

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.