Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Upgraded by Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings lowered shares of Greenlight Capital Re from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Greenlight Capital Re has a consensus rating of “Hold”.

Greenlight Capital Re Price Performance

GLRE stock opened at $14.66 on Friday. The company has a market capitalization of $478.52 million, a P/E ratio of 9.97 and a beta of 0.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.43 and a quick ratio of 2.43. The firm’s fifty day simple moving average is $15.00 and its 200-day simple moving average is $15.79. Greenlight Capital Re has a 12 month low of $11.56 and a 12 month high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.54). Greenlight Capital Re had a return on equity of 7.28% and a net margin of 7.47%. The firm had revenue of $137.46 million for the quarter, compared to analyst estimates of $165.31 million. As a group, equities research analysts forecast that Greenlight Capital Re will post 0.50 earnings per share for the current year.

Insider Activity at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 10,000 shares of the business’s stock in a transaction 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 sale, the director owned 43,142 shares in the company, valued at $644,972.90. The trade was a 18.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sherry Diaz sold 13,500 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $15.08, for a total value of $203,580.00. Following the sale, the insider directly owned 86,879 shares in the company, valued at $1,310,135.32. This trade represents a 13.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,500 shares of company stock worth $580,305. Corporate insiders own 24.67% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

Several large investors have recently bought and sold shares of the stock. Bfsg LLC boosted its stake in shares of Greenlight Capital Re by 11.0% during the 3rd quarter. Bfsg LLC now owns 13,120 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 1,300 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Greenlight Capital Re in the 3rd quarter valued at about $157,000. Engineers Gate Manager LP lifted its holdings in Greenlight Capital Re by 9.1% in the 2nd quarter. Engineers Gate Manager LP now owns 20,460 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 1,705 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Greenlight Capital Re by 10.9% during the second quarter. Wedge Capital Management L L P NC now owns 62,951 shares of the financial services provider’s stock valued at $1,019,000 after purchasing an additional 6,178 shares during the period. Finally, Bank of America Corp DE raised its position in Greenlight Capital Re by 14.9% in the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock valued at $1,523,000 after purchasing an additional 11,416 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. is a Bermuda-based specialty property and casualty reinsurance company that provides customized reinsurance solutions to insurance and reinsurance companies. Its offerings are designed to help clients manage and transfer risks across a range of property and casualty insurance lines.

The company conducts business primarily through its Bermuda operations and has served clients in international insurance markets. Greenlight Re has historically combined specialty underwriting with an investment approach associated with its Greenlight Capital affiliation, seeking to generate returns from both its insurance portfolio and investment activities.

Founded in 2004, Greenlight Re has focused on flexible, relationship-driven underwriting rather than offering standardized insurance products directly to consumers.