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

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

Greenlight Capital Re Stock Performance

GLRE opened at $13.50 on Friday. The firm’s fifty day simple moving average is $14.19 and its two-hundred day simple moving average is $13.87. Greenlight Capital Re has a 52-week low of $11.08 and a 52-week high of $15.82. The company has a market cap of $470.21 million, a price-to-earnings ratio of 5.36 and a beta of 0.89. 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 (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $188.01 million for the quarter. During the same period in the prior year, the business posted $0.39 earnings per share.

Institutional Trading of Greenlight Capital Re

Large investors have recently made changes to their positions in the company. Private Management Group Inc. boosted its stake in Greenlight Capital Re by 17.3% during the 4th quarter. Private Management Group Inc. now owns 930,479 shares of the financial services provider’s stock worth $13,027,000 after purchasing an additional 136,935 shares during the last quarter. State Street Corp lifted its stake in shares of Greenlight Capital Re by 1.1% in the third quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock worth $7,861,000 after buying an additional 6,319 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in Greenlight Capital Re during the third quarter worth about $4,972,000. Empowered Funds LLC grew its stake in Greenlight Capital Re by 62.7% during the 4th quarter. Empowered Funds LLC now owns 108,739 shares of the financial services provider’s stock valued at $1,522,000 after acquiring an additional 41,887 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Greenlight Capital Re in the 3rd quarter valued at about $1,188,000. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

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.