Greenlight Capital Re (NASDAQ:GLRE) Cut to Hold at StockNews.com

StockNews.com lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a report issued on Thursday.

Greenlight Capital Re Trading Up 0.4 %

Shares of GLRE opened at $13.62 on Thursday. The firm’s fifty day moving average is $14.30 and its two-hundred day moving average is $13.83. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. Greenlight Capital Re has a 52-week low of $11.08 and a 52-week high of $15.82. The stock has a market cap of $474.38 million, a PE ratio of 5.40 and a beta of 0.89.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.36. The firm 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 prior year, the business earned $0.39 EPS.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new stake in shares of Greenlight Capital Re during the third quarter worth about $4,972,000. Private Management Group Inc. raised its stake in Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider’s stock valued at $10,832,000 after acquiring an additional 172,523 shares during the last quarter. American Century Companies Inc. lifted 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 worth $4,543,000 after acquiring an additional 92,364 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Greenlight Capital Re in the 3rd quarter valued at approximately $1,188,000. Finally, Bank of Montreal Can acquired a new position in shares of Greenlight Capital Re in the second quarter valued at approximately $894,000. 41.52% of the stock is currently owned by institutional investors and hedge funds.

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.