Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Lowered by StockNews.com

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

Greenlight Capital Re Price Performance

Shares of GLRE stock opened at $13.50 on Thursday. Greenlight Capital Re has a 12-month low of $10.49 and a 12-month high of $14.31. The firm has a market capitalization of $476.82 million, a price-to-earnings ratio of 7.11 and a beta of 0.85. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average of $13.72 and a 200-day moving average of $13.19.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $174.86 million during the quarter.

Insider Buying and Selling

In related news, Director Ian Isaacs sold 7,159 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $13.81, for a total value of $98,865.79. Following the completion of the transaction, the director now directly owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 22.79% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 69.0% in the 1st quarter. Private Management Group Inc. now owns 452,313 shares of the financial services provider’s stock worth $5,640,000 after purchasing an additional 184,620 shares during the period. Vanguard Group Inc. lifted its position in Greenlight Capital Re by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock worth $16,753,000 after buying an additional 8,489 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Greenlight Capital Re by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock worth $26,730,000 after buying an additional 48,317 shares in the last quarter. Bank of Montreal Can bought a new stake in Greenlight Capital Re during the 2nd quarter worth about $894,000. Finally, BNP Paribas Financial Markets lifted its position in Greenlight Capital Re by 2.9% during the 1st quarter. BNP Paribas Financial Markets now owns 51,052 shares of the financial services provider’s stock worth $637,000 after buying an additional 1,418 shares in the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.

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.