Greenlight Capital Re (NASDAQ:GLRE) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research note released on Saturday morning.

Greenlight Capital Re Stock Down 2.9%

GLRE stock opened at $13.91 on Friday. The company’s 50 day simple moving average is $14.02 and its 200-day simple moving average is $13.71. The firm has a market capitalization of $480.73 million, a PE ratio of 10.78 and a beta of 0.66. Greenlight Capital Re has a 12 month low of $11.95 and a 12 month high of $15.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.90 and a quick ratio of 2.90.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.36. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%. The firm had revenue of $247.95 million for the quarter.

Insider Buying and Selling

In related news, Director Ian Isaacs sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $14.92, for a total transaction of $193,960.00. Following the sale, the director owned 71,484 shares in the company, valued at approximately $1,066,541.28. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick O’brien sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $13.22, for a total transaction of $66,100.00. Following the sale, the chief operating officer owned 170,425 shares in the company, valued at approximately $2,253,018.50. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,500 shares of company stock worth $361,160. 23.55% of the stock is owned by company insiders.

Institutional Trading of Greenlight Capital Re

Hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Greenlight Capital Re in the 4th quarter valued at $367,000. GAMMA Investing LLC boosted its holdings in shares of Greenlight Capital Re by 5,284.0% in the 1st quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 3,963 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Greenlight Capital Re in the 4th quarter valued at $1,341,000. Rhumbline Advisers boosted its holdings in shares of Greenlight Capital Re by 12.5% in the 4th quarter. Rhumbline Advisers now owns 47,675 shares of the financial services provider’s stock valued at $667,000 after purchasing an additional 5,304 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Greenlight Capital Re by 26.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 74,005 shares of the financial services provider’s stock valued at $1,036,000 after purchasing an additional 15,645 shares during the last quarter. Institutional investors and hedge funds 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.