Greenlight Capital Re (NASDAQ:GLRE) Raised to “Buy” at StockNews.com

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Greenlight Capital Re Stock Performance

GLRE stock traded up $0.45 on Friday, hitting $13.90. The company’s stock had a trading volume of 74,448 shares, compared to its average volume of 84,607. The stock has a market cap of $490.96 million, a price-to-earnings ratio of 4.65 and a beta of 0.86. The firm has a 50 day moving average of $13.52 and a two-hundred day moving average of $13.00. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.10. Greenlight Capital Re has a 1 year low of $10.49 and a 1 year high of $14.31.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, August 6th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%. The business had revenue of $174.86 million during the quarter.

Insider Transactions at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $13.81, for a total value of $98,865.79. Following the completion of the sale, the director now owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Greenlight Capital Re by 2.4% in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Greenlight Capital Re by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock valued at $16,753,000 after purchasing an additional 8,489 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Greenlight Capital Re by 37.3% during the 2nd quarter. Private Management Group Inc. now owns 621,021 shares of the financial services provider’s stock valued at $8,135,000 after buying an additional 168,708 shares during the period. American Century Companies Inc. increased its holdings in shares of Greenlight Capital Re by 36.3% during the 2nd 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 last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Greenlight Capital Re by 15.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 103,273 shares of the financial services provider’s stock worth $1,353,000 after buying an additional 13,897 shares during the last quarter. Hedge funds and other institutional investors 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.