Greenlight Capital Re (NASDAQ:GLRE) Rating Lowered to Hold at StockNews.com

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Greenlight Capital Re Trading Down 0.4 %

NASDAQ:GLRE opened at $14.08 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02. Greenlight Capital Re has a 1 year low of $10.95 and a 1 year high of $15.82. The company has a market cap of $490.43 million, a P/E ratio of 5.59 and a beta of 0.89. The stock’s fifty day moving average price is $14.38 and its two-hundred day moving average price is $13.77.

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

Hedge Funds Weigh In On Greenlight Capital Re

Several large investors have recently made changes to their positions in GLRE. CWA Asset Management Group LLC purchased a new position in Greenlight Capital Re in the 3rd quarter worth approximately $4,972,000. Private Management Group Inc. raised 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 worth $10,832,000 after acquiring an additional 172,523 shares during the last quarter. American Century Companies Inc. raised 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 worth $4,543,000 after acquiring an additional 92,364 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Greenlight Capital Re in the 3rd quarter worth approximately $1,188,000. Finally, Bank of Montreal Can purchased a new position in Greenlight Capital Re in the 2nd quarter worth approximately $894,000. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

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.