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 report released on Friday.

Greenlight Capital Re Price Performance

NASDAQ:GLRE opened at $13.73 on Friday. The company has a 50-day moving average of $14.40 and a 200-day moving average of $13.72. The company has a market capitalization of $478.24 million, a price-to-earnings ratio of 5.45 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 quarterly earnings data on Monday, November 4th. The financial services provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. The company had revenue of $188.01 million during the quarter. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. During the same period in the previous year, the business posted $0.39 earnings per share.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Greenlight Capital Re by 288.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 36,116 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Greenlight Capital Re during the 3rd quarter valued at about $1,188,000. Barclays PLC lifted its holdings in Greenlight Capital Re by 275.5% during the 3rd quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 26,468 shares during the last quarter. State Street Corp lifted its holdings in Greenlight Capital Re by 1.1% during the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock valued at $7,861,000 after purchasing an additional 6,319 shares during the last quarter. Finally, Centiva Capital LP bought a new position in Greenlight Capital Re during the 3rd quarter valued at about $139,000. 41.52% of the stock is owned by 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.