Greenlight Capital Re (NASDAQ:GLRE) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a hold rating to a buy rating in a report published on Friday.

Greenlight Capital Re Price Performance

Shares of NASDAQ GLRE opened at $14.75 on Friday. The stock has a fifty day simple moving average of $13.80 and a two-hundred day simple moving average of $13.28. Greenlight Capital Re has a 1-year low of $10.57 and a 1-year high of $15.82. The firm has a market cap of $520.97 million, a price-to-earnings ratio of 5.85 and a beta of 0.85. 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $188.01 million during the quarter. During the same period in the previous year, the business earned $0.39 earnings per share.

Insider Transactions at Greenlight Capital Re

In related news, Director Ian Isaacs sold 7,159 shares of the company’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the sale, the director now directly owns 86,984 shares in the company, valued at $1,201,249.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 22.79% of the company’s stock.

Institutional Investors Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in Greenlight Capital Re by 232.8% during the third 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 during the period. Metis Global Partners LLC bought a new position in Greenlight Capital Re during the third quarter valued at approximately $272,000. CWA Asset Management Group LLC bought a new position in shares of Greenlight Capital Re during the 3rd quarter valued at approximately $4,972,000. Private Management Group Inc. lifted its position in Greenlight Capital Re by 27.8% during the third 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 last quarter. Finally, Bfsg LLC lifted its stake in shares of Greenlight Capital Re by 25.8% in the 3rd quarter. Bfsg LLC now owns 6,535 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 1,340 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

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.