Greenlight Capital Re (NASDAQ:GLRE) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of Greenlight Capital Re (NASDAQ:GLRE – Free Report) from a hold rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Check Out Our Latest Report on Greenlight Capital Re

Greenlight Capital Re Stock Down 0.1%

GLRE stock opened at $14.74 on Friday. The stock has a market capitalization of $481.11 million, a P/E ratio of 10.03 and a beta of 0.27. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.01. Greenlight Capital Re has a 12 month low of $11.56 and a 12 month high of $19.39. The firm has a 50-day moving average price of $15.41 and a 200-day moving average price of $16.45.

Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). The company had revenue of $137.46 million during the quarter, compared to analyst estimates of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. As a group, equities research analysts anticipate that Greenlight Capital Re will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Greenlight Capital Re

In other news, insider Sherry Diaz sold 13,500 shares of the business’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $15.08, for a total transaction of $203,580.00. Following the sale, the insider directly owned 86,879 shares in the company, valued at approximately $1,310,135.32. The trade was a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ian Isaacs sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The shares were sold at an average price of $14.95, for a total value of $149,500.00. Following the completion of the transaction, the director directly owned 43,142 shares of the company’s stock, valued at $644,972.90. This represents a 18.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 38,500 shares of company stock worth $580,305. 24.67% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Greenlight Capital Re

Several hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. grew its stake in shares of Greenlight Capital Re by 25.6% in the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after purchasing an additional 306,468 shares during the last quarter. Empowered Funds LLC raised its position in Greenlight Capital Re by 9.8% during the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 15,845 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Greenlight Capital Re by 64.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after buying an additional 50,099 shares during the period. Bank of America Corp DE lifted its holdings in Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after buying an additional 11,416 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Greenlight Capital Re in the 1st quarter valued at about $1,343,000. 41.52% of the stock is currently owned by institutional investors and hedge funds.

About Greenlight Capital Re

(Get Free Report)

Greenlight Capital Re, Ltd. was a Bermuda-based specialty property and casualty reinsurance company established in 2004. The company was founded with backing from Greenlight Capital and was designed to combine traditional reinsurance underwriting with alternative investment expertise.

Through its reinsurance operations, Greenlight Re provided customized coverage and capacity to insurance companies and other risk-bearing organizations. Its business included property, casualty and specialty lines, with underwriting focused on areas such as catastrophe-exposed property, workers’ compensation, liability and other commercial risks.

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