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

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Greenlight Capital Re Price Performance

Greenlight Capital Re stock opened at $13.16 on Wednesday. The firm has a market capitalization of $458.39 million, a P/E ratio of 5.22 and a beta of 0.86. Greenlight Capital Re has a 1 year low of $11.72 and a 1 year high of $15.82. The business has a 50-day moving average of $13.65 and a 200-day moving average of $13.94. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.40). Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The firm had revenue of $143.76 million for the quarter.

Hedge Funds Weigh In On Greenlight Capital Re

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Greenlight Capital Re by 288.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 36,116 shares during the last quarter. Barclays PLC raised its stake in shares of Greenlight Capital Re by 275.5% during the 3rd quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock worth $493,000 after purchasing an additional 26,468 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Greenlight Capital Re by 232.8% during the 3rd quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock worth $913,000 after purchasing an additional 46,764 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Greenlight Capital Re during the 3rd quarter worth approximately $1,188,000. Finally, Rhumbline Advisers raised its stake in shares of Greenlight Capital Re by 12.5% during the 4th quarter. Rhumbline Advisers now owns 47,675 shares of the financial services provider’s stock worth $667,000 after purchasing an additional 5,304 shares in the last quarter. Institutional investors and hedge funds own 41.52% of the company’s stock.

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.