Greenlight Capital Re (NASDAQ:GLRE) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Greenlight Capital Re (NASDAQ:GLREFree Report) from a buy rating to a hold rating in a research note released on Thursday morning.

Greenlight Capital Re Stock Performance

Shares of GLRE stock opened at $13.56 on Thursday. The company has a fifty day moving average price of $14.33 and a two-hundred day moving average price of $13.82. Greenlight Capital Re has a one year low of $11.08 and a one year high of $15.82. The stock has a market cap of $472.29 million, a P/E ratio of 5.38 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02.

Greenlight Capital Re (NASDAQ:GLREGet Free Report) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. The business had revenue of $188.01 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same quarter in the previous year, the business posted $0.39 EPS.

Institutional Investors Weigh In On Greenlight Capital Re

A number of large investors have recently added to or reduced their stakes in GLRE. CWA Asset Management Group LLC bought a new position in Greenlight Capital Re during the third quarter worth $4,972,000. Barclays PLC lifted its position in Greenlight Capital Re by 275.5% during the third quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 26,468 shares during the last quarter. Empowered Funds LLC lifted its position in Greenlight Capital Re by 232.8% during the third quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock worth $913,000 after acquiring an additional 46,764 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re in the 3rd quarter valued at $1,188,000. Finally, Private Management Group Inc. lifted its holdings in shares of Greenlight Capital Re by 27.8% during the third quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after buying an additional 172,523 shares in the last quarter. Institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

(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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