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

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

Greenlight Capital Re Stock Down 3.7 %

NASDAQ GLRE opened at $13.39 on Friday. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.10. Greenlight Capital Re has a 52 week low of $10.49 and a 52 week high of $14.31. The firm has a market capitalization of $472.95 million, a price-to-earnings ratio of 4.48 and a beta of 0.85. The company has a fifty day moving average of $13.52 and a two-hundred day moving average of $13.01.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Greenlight Capital Re had a return on equity of 10.88% and a net margin of 9.60%. The business had revenue of $174.86 million for the quarter.

Insiders Place Their Bets

In other news, Director Ian Isaacs sold 7,159 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $13.81, for a total value of $98,865.79. Following the transaction, the director now directly owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 22.79% of the stock is owned by insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors have recently made changes to their positions in GLRE. Campbell & CO Investment Adviser LLC purchased a new stake in Greenlight Capital Re during the 4th quarter worth approximately $409,000. ADAR1 Capital Management LLC purchased a new stake in shares of Greenlight Capital Re during the fourth quarter worth approximately $389,000. Quadrature Capital Ltd acquired a new position in Greenlight Capital Re in the 4th quarter valued at $218,000. BNP Paribas Financial Markets lifted its holdings in Greenlight Capital Re by 2.9% in the 1st quarter. BNP Paribas Financial Markets now owns 51,052 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 1,418 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Greenlight Capital Re during the 1st quarter worth $454,000. 41.52% of the stock is owned by hedge funds and other institutional investors.

About Greenlight Capital Re

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.