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

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

Greenlight Capital Re Price Performance

Shares of GLRE opened at $13.90 on Friday. The firm has a market cap of $490.96 million, a PE ratio of 4.65 and a beta of 0.85. The firm’s 50 day moving average price is $13.52 and its 200 day moving average price is $13.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00. Greenlight Capital Re has a twelve month low of $10.49 and a twelve month high of $14.31.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $174.86 million for the quarter. Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%.

Insider Activity

In other news, Director Ian Isaacs sold 7,159 shares of Greenlight Capital Re stock in a transaction that occurred 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 transaction, the director now owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 22.79% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

Institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Greenlight Capital Re in the second quarter valued at approximately $37,000. CWM LLC increased its position in Greenlight Capital Re by 37.3% during the second quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,005 shares during the period. SG Americas Securities LLC bought a new position in Greenlight Capital Re during the third quarter worth $133,000. Vanguard Personalized Indexing Management LLC bought a new position in Greenlight Capital Re during the second quarter worth $138,000. Finally, Quadrature Capital Ltd bought a new position in Greenlight Capital Re during the fourth quarter worth $218,000. 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.