Greenlight Capital Re (NASDAQ:GLRE) Downgraded to “Buy” Rating by Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen cut shares of Greenlight Capital Re (NASDAQ:GLRE – Free Report) from a strong-buy rating to a buy rating in a report published on Saturday morning.
Separately, Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy”.
Read Our Latest Analysis on GLRE
Greenlight Capital Re Price Performance
NASDAQ:GLRE opened at $17.85 on Friday. Greenlight Capital Re has a one year low of $11.56 and a one year high of $18.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. The company has a market cap of $606.54 million, a P/E ratio of 8.19 and a beta of 0.39. The firm’s fifty day moving average price is $14.99 and its two-hundred day moving average price is $13.85.
Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last announced its earnings results on Monday, March 9th. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $210.30 million for the quarter. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Catawba River Capital bought a new stake in shares of Greenlight Capital Re during the third quarter valued at approximately $2,542,000. Private Management Group Inc. lifted its holdings in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Private Management Group Inc. now owns 1,195,767 shares of the financial services provider’s stock worth $15,186,000 after purchasing an additional 136,041 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in shares of Greenlight Capital Re by 6.9% in the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after purchasing an additional 62,707 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Greenlight Capital Re in the 4th quarter valued at $2,480,000. Finally, Independent Advisor Alliance grew its position in Greenlight Capital Re by 2.8% in the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider’s stock valued at $941,000 after purchasing an additional 1,751 shares during the period. 41.52% of the stock is owned by institutional investors and hedge funds.
Greenlight Capital Re Company Profile
Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.
The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.