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

by · The Cerbat Gem

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

Greenlight Capital Re Trading Up 3.3 %

Shares of GLRE stock opened at $13.90 on Friday. The business’s fifty day moving average price is $13.52 and its 200 day moving average price is $13.01. The firm has a market capitalization of $490.96 million, a PE ratio of 4.65 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.00 and a quick ratio of 3.00. Greenlight Capital Re has a 1-year low of $10.49 and a 1-year high of $14.31.

Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Greenlight Capital Re had a return on equity of 10.88% and a net margin of 9.60%. The company had revenue of $174.86 million for the quarter.

Insider Activity

In related news, Director Ian Isaacs sold 7,159 shares of Greenlight Capital Re stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the transaction, the director now directly owns 86,984 shares in the company, valued at $1,201,249.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 22.79% of the company’s stock.

Institutional Trading of Greenlight Capital Re

Several hedge funds and other institutional investors have recently bought and sold shares of GLRE. Private Management Group Inc. lifted its position in Greenlight Capital Re by 69.0% during the first quarter. Private Management Group Inc. now owns 452,313 shares of the financial services provider’s stock worth $5,640,000 after buying an additional 184,620 shares during the period. American Century Companies Inc. grew its holdings in Greenlight Capital Re by 36.3% in the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock valued at $4,543,000 after buying an additional 92,364 shares during the period. Bank of Montreal Can acquired a new position in shares of Greenlight Capital Re during the 2nd quarter valued at about $894,000. Boston Partners purchased a new position in shares of Greenlight Capital Re during the 1st quarter worth about $828,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Greenlight Capital Re by 2.4% in 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 acquiring an additional 48,317 shares during the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

(Get Free Report)

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.

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