Greenlight Capital Re (NASDAQ:GLRE) Downgraded by StockNews.com to “Hold”

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

Greenlight Capital Re Price Performance

Shares of GLRE stock opened at $14.13 on Wednesday. The stock has a 50 day moving average of $14.42 and a two-hundred day moving average of $13.77. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09. Greenlight Capital Re has a 12 month low of $10.95 and a 12 month high of $15.82. The company has a market capitalization of $492.18 million, a P/E ratio of 5.61 and a beta of 0.89.

Greenlight Capital Re (NASDAQ:GLRE) last posted its 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. The business had revenue of $188.01 million during the quarter. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. During the same quarter last year, the business earned $0.39 EPS.

Hedge Funds Weigh In On Greenlight Capital Re

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC acquired a new stake in Greenlight Capital Re during the 3rd quarter valued at $4,972,000. Empowered Funds LLC increased its holdings in Greenlight Capital Re by 232.8% during the 3rd quarter. Empowered Funds LLC now owns 66,852 shares of the financial services provider’s stock valued at $913,000 after purchasing an additional 46,764 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Greenlight Capital Re during the 3rd quarter valued at $1,188,000. Private Management Group Inc. increased its holdings 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 purchasing an additional 172,523 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Greenlight Capital Re by 2.4% during 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 purchasing an additional 48,317 shares in the last quarter. 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.