Greenlight Capital Re (NASDAQ:GLRE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a hold rating to a buy rating in a research report released on Friday.

Greenlight Capital Re Trading Down 1.5 %

Shares of Greenlight Capital Re stock opened at $13.50 on Friday. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $14.23 and a 200-day simple moving average of $13.86. The stock has a market cap of $470.21 million, a price-to-earnings ratio of 5.36 and a beta of 0.89. Greenlight Capital Re has a 12-month low of $11.08 and a 12-month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.36. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The company had revenue of $188.01 million during the quarter. During the same quarter in the prior year, the company earned $0.39 EPS.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLRE. CWA Asset Management Group LLC acquired a new position in shares of Greenlight Capital Re in the 3rd quarter valued at $4,972,000. Private Management Group Inc. grew its position in Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock worth $10,832,000 after purchasing an additional 172,523 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Greenlight Capital Re in the third quarter valued at $1,188,000. Bank of Montreal Can purchased a new stake in shares of Greenlight Capital Re in the second quarter valued at about $894,000. Finally, Empowered Funds LLC boosted its stake in shares of 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 buying an additional 46,764 shares during the period. Hedge funds and other institutional investors own 41.52% of the company’s stock.

Greenlight Capital Re Company Profile

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.