Greenlight Capital Re (NASDAQ:GLRE) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Greenlight Capital Re Stock Up 1.5 %

NASDAQ GLRE opened at $14.13 on Wednesday. The stock has a fifty day moving average of $14.42 and a 200-day moving average of $13.77. The stock has a market capitalization of $492.18 million, a P/E ratio of 5.61 and a beta of 0.89. Greenlight Capital Re has a 52 week low of $10.95 and a 52 week high of $15.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of Greenlight Capital Re by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock worth $26,730,000 after purchasing an additional 48,317 shares during the last quarter. Private Management Group Inc. boosted its position in shares of Greenlight Capital Re by 27.8% in 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. State Street Corp boosted its position in shares of Greenlight Capital Re by 1.1% in the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock worth $7,861,000 after purchasing an additional 6,319 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Greenlight Capital Re in the 3rd quarter worth $4,972,000. Finally, American Century Companies Inc. boosted its position in shares of Greenlight Capital Re by 36.3% in the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock worth $4,543,000 after purchasing an additional 92,364 shares during the last quarter. 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.