Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Raised to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

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

Greenlight Capital Re Stock Performance

Shares of GLRE opened at $14.66 on Friday. The business has a 50-day simple moving average of $15.00 and a two-hundred day simple moving average of $15.79. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. Greenlight Capital Re has a 52 week low of $11.56 and a 52 week high of $19.39. The stock has a market cap of $478.50 million, a price-to-earnings ratio of 9.97 and a beta of 0.27.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). The company had revenue of $137.46 million for the quarter, compared to analysts’ expectations of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. On average, analysts expect that Greenlight Capital Re will post 0.50 EPS for the current year.

Insider Buying and Selling at Greenlight Capital Re

In other news, Director Leonard Goldberg purchased 6,000 shares of the business’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $15.42 per share, for a total transaction of $92,520.00. Following the acquisition, the director directly owned 36,000 shares of the company’s stock, valued at $555,120. This represents a 20.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ian Isaacs sold 10,000 shares of the firm’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $14.95, for a total transaction of $149,500.00. Following the completion of the transaction, the director directly owned 43,142 shares of the company’s stock, valued at approximately $644,972.90. This trade represents a 18.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,500 shares of company stock worth $580,305 in the last quarter. 24.67% of the stock is owned by corporate insiders.

Institutional Trading of Greenlight Capital Re

Large investors have recently made changes to their positions in the business. Empowered Funds LLC lifted its stake in shares of Greenlight Capital Re by 9.8% in the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock valued at $3,078,000 after purchasing an additional 15,845 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Greenlight Capital Re by 64.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock valued at $2,210,000 after purchasing an additional 50,099 shares during the last quarter. Bank of America Corp DE increased its position in shares of Greenlight Capital Re by 14.9% during 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. Renaissance Technologies LLC bought a new position in shares of Greenlight Capital Re during the 1st quarter valued at approximately $1,343,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Greenlight Capital Re during the 1st quarter valued at $1,117,000. 41.52% of the stock is currently owned by institutional investors.

Greenlight Capital Re Company Profile

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.