Greenlight Capital Re (NASDAQ:GLRE) Rating Increased to Buy at StockNews.com

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

Greenlight Capital Re Stock Performance

NASDAQ:GLRE traded down $0.02 during midday trading on Friday, reaching $14.76. 107,291 shares of the company traded hands, compared to its average volume of 77,293. The firm has a market capitalization of $521.34 million, a price-to-earnings ratio of 5.86 and a beta of 0.85. The company has a fifty day moving average price of $13.80 and a 200 day moving average price of $13.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.00. Greenlight Capital Re has a twelve month low of $10.49 and a twelve month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.36. The company had revenue of $188.01 million for 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 earnings per share.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 7,159 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the transaction, the director now directly owns 86,984 shares in the company, valued at approximately $1,201,249.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.79% of the stock is owned by insiders.

Institutional Investors Weigh In On Greenlight Capital Re

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC acquired a new position in Greenlight Capital Re during the 2nd quarter valued at about $37,000. CWM LLC increased its stake in shares of Greenlight Capital Re by 37.3% during the second quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 1,005 shares during the period. Bfsg LLC increased its stake in shares of Greenlight Capital Re by 25.8% during the third quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 1,340 shares during the period. SG Americas Securities LLC bought a new stake in Greenlight Capital Re during the third quarter worth approximately $133,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Greenlight Capital Re in the second quarter worth approximately $138,000. 41.52% of the stock is currently owned by institutional investors.

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.