Greenlight Capital Re (NASDAQ:GLRE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a hold rating to a buy rating in a report released on Friday morning.

Greenlight Capital Re Trading Down 0.1 %

Greenlight Capital Re stock opened at $14.75 on Friday. Greenlight Capital Re has a 52 week low of $10.57 and a 52 week high of $15.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.00 and a current ratio of 3.02. The stock has a market capitalization of $520.97 million, a P/E ratio of 5.85 and a beta of 0.85. The stock has a 50-day simple moving average of $13.80 and a 200 day simple moving average of $13.28.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Monday, November 4th. The financial services provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.65 by $0.36. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The company had revenue of $188.01 million during the quarter. During the same quarter in the prior year, the firm posted $0.39 earnings per share.

Insider Transactions at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the company’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 transaction, the director now directly owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 22.79% of the company’s stock.

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently made changes to their positions in GLRE. Private Management Group Inc. boosted its stake in shares of Greenlight Capital Re by 69.0% in the first quarter. Private Management Group Inc. now owns 452,313 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 184,620 shares during the period. Vanguard Group Inc. lifted its position in Greenlight Capital Re by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock worth $16,753,000 after purchasing an additional 8,489 shares during the period. CWA Asset Management Group LLC bought a new stake in Greenlight Capital Re during the third quarter worth about $4,972,000. Dimensional Fund Advisors LP lifted its position in Greenlight Capital Re by 2.4% during 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 purchasing an additional 48,317 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of Greenlight Capital Re during the 2nd quarter worth approximately $894,000. 41.52% of the stock is currently 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.