Greenlight Capital Re (NASDAQ:GLRE) Upgraded by StockNews.com to Buy Rating

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

Greenlight Capital Re Trading Down 0.7 %

NASDAQ GLRE opened at $13.70 on Friday. 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 stock has a 50 day simple moving average of $14.25 and a two-hundred day simple moving average of $13.86. The stock has a market cap of $477.17 million, a P/E ratio of 5.44 and a beta of 0.89. Greenlight Capital Re has a fifty-two week low of $11.08 and a fifty-two week high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.36. The company had revenue of $188.01 million for 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 prior year, the firm earned $0.39 earnings per share.

Institutional Trading of Greenlight Capital Re

Hedge funds and other institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new position in shares of Greenlight Capital Re during the fourth quarter valued at $29,000. Bfsg LLC increased its position in shares of Greenlight Capital Re by 25.8% during the third quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 1,340 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Greenlight Capital Re during the 3rd quarter valued at $133,000. Centiva Capital LP purchased a new position in shares of Greenlight Capital Re in the third quarter worth $139,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Greenlight Capital Re during the fourth quarter valued at $144,000. 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.