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 research note published on Friday morning.

Greenlight Capital Re Stock Performance

Shares of GLRE opened at $13.73 on Friday. The company’s fifty day moving average is $14.40 and its 200-day moving average is $13.72. Greenlight Capital Re has a 12 month low of $10.95 and a 12 month high of $15.82. The firm has a market cap of $478.24 million, a price-to-earnings ratio of 5.45 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 announced its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 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 for the quarter. During the same quarter last year, the company earned $0.39 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Greenlight Capital Re by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock valued at $26,730,000 after buying an additional 48,317 shares during the last quarter. Private Management Group Inc. boosted its holdings in Greenlight Capital Re by 27.8% in 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 purchasing an additional 172,523 shares during the period. State Street Corp boosted its holdings in Greenlight Capital Re by 1.1% in the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock valued at $7,861,000 after purchasing an additional 6,319 shares during the period. CWA Asset Management Group LLC bought a new stake in Greenlight Capital Re in the 3rd quarter valued at $4,972,000. Finally, American Century Companies Inc. boosted its holdings in Greenlight Capital Re by 36.3% in 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 period. 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.