Greenlight Capital Re (NASDAQ:GLRE) Rating Lowered to Buy at Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Greenlight Capital Re Price Performance

GLRE stock opened at $17.85 on Friday. The stock has a market capitalization of $606.54 million, a P/E ratio of 8.19 and a beta of 0.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. Greenlight Capital Re has a 1-year low of $11.56 and a 1-year high of $18.04. The business has a fifty day moving average price of $14.99 and a 200-day moving average price of $13.86.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32. The company had revenue of $210.30 million during the quarter. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Private Management Group Inc. grew its stake in shares of Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after purchasing an additional 306,468 shares during the period. Catawba River Capital purchased a new stake in shares of Greenlight Capital Re during the 3rd quarter valued at about $2,542,000. Pinnacle Associates Ltd. bought a new position in shares of Greenlight Capital Re in the 4th quarter worth approximately $2,480,000. Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Greenlight Capital Re in the 4th quarter worth approximately $2,479,000. Finally, Millennium Management LLC boosted its holdings in shares of Greenlight Capital Re by 546.5% in the fourth quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock worth $2,906,000 after buying an additional 168,486 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

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.