Greenlight Capital Re (NASDAQ:GLRE) Upgraded 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 report released on Friday morning.

Greenlight Capital Re Price Performance

Shares of NASDAQ GLRE traded down $0.02 during midday trading on Friday, reaching $14.76. The company’s stock had a trading volume of 107,291 shares, compared to its average volume of 77,293. Greenlight Capital Re has a one year low of $10.49 and a one year high of $15.82. The company has a market cap of $521.34 million, a price-to-earnings ratio of 5.86 and a beta of 0.85. The company has a 50 day moving average price of $13.80 and a 200 day moving average price of $13.27. The company has a current ratio of 3.02, a quick ratio of 3.00 and a debt-to-equity ratio of 0.09.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.36. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The company had revenue of $188.01 million for the quarter. During the same period in the prior year, the company posted $0.39 EPS.

Insider Activity

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the firm’s stock in a transaction dated 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 directly owns 86,984 shares in the company, valued at $1,201,249.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 22.79% of the stock is currently owned by company insiders.

Institutional Trading of Greenlight Capital Re

Hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets raised its position in Greenlight Capital Re by 2.9% during the first quarter. BNP Paribas Financial Markets now owns 51,052 shares of the financial services provider’s stock valued at $637,000 after buying an additional 1,418 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of Greenlight Capital Re in the 1st quarter valued at about $454,000. Private Management Group Inc. lifted its position in shares of 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 worth $5,640,000 after purchasing an additional 184,620 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Greenlight Capital Re by 0.6% during the first quarter. Vanguard Group Inc. now owns 1,343,464 shares of the financial services provider’s stock worth $16,753,000 after purchasing an additional 8,489 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Greenlight Capital Re by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,958 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 1,323 shares in 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.