Greenlight Capital Re (NASDAQ:GLRE) Rating Lowered 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 research report sent to investors on Wednesday morning.

Greenlight Capital Re Stock Down 3.2 %

GLRE stock opened at $12.85 on Wednesday. Greenlight Capital Re has a fifty-two week low of $11.72 and a fifty-two week high of $15.82. The business’s 50 day moving average price is $13.67 and its two-hundred day moving average price is $13.95. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02. The company has a market capitalization of $447.59 million, a price-to-earnings ratio of 5.10 and a beta of 0.86.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share for the quarter, missing the consensus estimate of $0.59 by ($1.40). The company had revenue of $143.76 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%.

Hedge Funds Weigh In On Greenlight Capital Re

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Greenlight Capital Re during the 4th quarter valued at $29,000. Aquatic Capital Management LLC boosted its holdings in Greenlight Capital Re by 374.4% in the 4th quarter. Aquatic Capital Management LLC now owns 3,795 shares of the financial services provider’s stock worth $53,000 after buying an additional 2,995 shares during the period. Bfsg LLC boosted its stake in shares of Greenlight Capital Re by 13.3% in the fourth quarter. Bfsg LLC now owns 7,405 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 870 shares during the period. Centiva Capital LP bought a new position in Greenlight Capital Re in the 3rd quarter worth approximately $139,000. Finally, Janney Montgomery Scott LLC bought a new position in Greenlight Capital Re in the 4th quarter worth approximately $144,000. 41.52% of the stock is owned by 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.