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

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

Greenlight Capital Re Stock Performance

Shares of Greenlight Capital Re stock opened at $13.75 on Thursday. Greenlight Capital Re has a one year low of $11.08 and a one year high of $15.82. The company has a market cap of $478.91 million, a PE ratio of 5.46 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02. The business has a 50-day simple moving average of $14.35 and a 200-day simple moving average of $13.83.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.36. The firm 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 firm earned $0.39 EPS.

Institutional Investors Weigh In On Greenlight Capital Re

Several institutional investors have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Greenlight Capital Re by 14.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 28,363 shares of the financial services provider’s stock valued at $397,000 after buying an additional 3,551 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Greenlight Capital Re in the fourth quarter valued at approximately $144,000. SG Americas Securities LLC lifted its stake in Greenlight Capital Re by 20.2% in the fourth quarter. SG Americas Securities LLC now owns 11,715 shares of the financial services provider’s stock valued at $164,000 after buying an additional 1,971 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Greenlight Capital Re by 288.2% in the third quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock valued at $664,000 after buying an additional 36,116 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Greenlight Capital Re in the third quarter valued at approximately $1,188,000. Hedge funds and other 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.