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

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Greenlight Capital Re Stock Up 0.1 %

Shares of GLRE stock opened at $13.50 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00. The firm’s 50-day moving average is $13.72 and its 200-day moving average is $13.19. The stock has a market cap of $476.82 million, a price-to-earnings ratio of 7.11 and a beta of 0.85. Greenlight Capital Re has a 52-week low of $10.49 and a 52-week high of $14.31.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $174.86 million during the quarter. Greenlight Capital Re had a net margin of 9.60% and a return on equity of 10.88%.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, Director Ian Isaacs sold 7,159 shares of the 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 transaction, the director now directly owns 86,984 shares of the company’s stock, valued at $1,201,249.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 22.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in shares of Greenlight Capital Re during the 3rd quarter worth approximately $4,972,000. Private Management Group Inc. grew its position in shares of 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 worth $10,832,000 after purchasing an additional 172,523 shares in the last quarter. Bfsg LLC grew its position in shares of Greenlight Capital Re by 25.8% during the 3rd quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 1,340 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Greenlight Capital Re during the 3rd quarter worth approximately $133,000. Finally, AQR Capital Management LLC grew its position in shares of Greenlight Capital Re by 48.1% during the 2nd quarter. AQR Capital Management LLC now owns 25,399 shares of the financial services provider’s stock worth $333,000 after purchasing an additional 8,246 shares in the last quarter. Institutional investors and hedge funds 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.