Greenlight Capital Re (NASDAQ:GLRE) Downgraded by StockNews.com to Hold

Greenlight Capital Re (NASDAQ:GLREGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Greenlight Capital Re Stock Up 0.1 %

Shares of NASDAQ GLRE traded up $0.02 during mid-day trading on Friday, hitting $13.73. 95,195 shares of the stock traded hands, compared to its average volume of 105,847. The company has a market cap of $478.24 million, a price-to-earnings ratio of 5.45 and a beta of 0.88. The stock has a fifty day moving average price of $14.40 and a 200-day moving average price of $13.71. 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:GLREGet Free Report) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.36. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The company had revenue of $188.01 million during the quarter. During the same quarter in the previous year, the business earned $0.39 earnings per share.

Institutional Trading of Greenlight Capital Re

A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in Greenlight Capital Re by 15.5% during the second quarter. Bank of New York Mellon Corp now owns 103,273 shares of the financial services provider’s stock valued at $1,353,000 after buying an additional 13,897 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Greenlight Capital Re by 85.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 20,877 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 9,633 shares in the last quarter. Rhumbline Advisers raised its position in shares of Greenlight Capital Re by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 45,874 shares of the financial services provider’s stock worth $601,000 after purchasing an additional 2,923 shares during the last quarter. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 37.3% in the 2nd quarter. Private Management Group Inc. now owns 621,021 shares of the financial services provider’s stock worth $8,135,000 after purchasing an additional 168,708 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Greenlight Capital Re by 36.3% during the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock valued at $4,543,000 after purchasing an additional 92,364 shares during the last quarter. 41.52% of the stock is owned by institutional investors.

Greenlight Capital Re Company Profile

(Get Free Report)

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.

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