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

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

Greenlight Capital Re Trading Up 0.1 %

Greenlight Capital Re stock opened at $13.73 on Friday. The stock has a 50-day moving average price of $14.40 and a 200 day moving average price of $13.71. Greenlight Capital Re has a 52 week low of $10.95 and a 52 week high of $15.82. The stock has a market cap of $478.24 million, a PE ratio of 5.45 and a beta of 0.89. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09.

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

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. CWA Asset Management Group LLC acquired a new stake in Greenlight Capital Re in the 3rd quarter worth about $4,972,000. Private Management Group Inc. lifted its holdings in shares of Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after acquiring an additional 172,523 shares during the period. American Century Companies Inc. lifted 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 acquiring an additional 92,364 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Greenlight Capital Re in the third quarter worth approximately $1,188,000. Finally, Bank of Montreal Can purchased a new stake in Greenlight Capital Re in the second quarter valued at approximately $894,000. 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.