Greenlight Capital Re (NASDAQ:GLRE) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a hold rating to a buy rating in a research note released on Friday morning.

Greenlight Capital Re Trading Up 3.3 %

Shares of Greenlight Capital Re stock opened at $13.90 on Friday. The stock has a 50 day moving average of $13.52 and a 200 day moving average of $13.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00. The firm has a market capitalization of $490.96 million, a price-to-earnings ratio of 4.65 and a beta of 0.85. Greenlight Capital Re has a fifty-two week low of $10.49 and a fifty-two week high of $14.31.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $174.86 million for the quarter.

Insider Buying and Selling

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $13.81, for a total value of $98,865.79. Following the completion of the transaction, the director now owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 22.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLRE. Private Management Group Inc. increased its holdings in Greenlight Capital Re by 69.0% in the first quarter. Private Management Group Inc. now owns 452,313 shares of the financial services provider’s stock valued at $5,640,000 after buying an additional 184,620 shares during the last quarter. American Century Companies Inc. boosted its position in shares of 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 in the last quarter. Bank of Montreal Can purchased a new position in shares of Greenlight Capital Re in the 2nd quarter valued at about $894,000. Boston Partners acquired a new stake in shares of Greenlight Capital Re during the 1st quarter worth about $828,000. Finally, Dimensional Fund Advisors LP lifted its stake in Greenlight Capital Re by 2.4% during the second 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. Hedge funds and other institutional investors own 41.52% of the company’s stock.

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.