Greenlight Capital Re’s (GLRE) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b-) rating on shares of Greenlight Capital Re (NASDAQ:GLRE) in a research report released on Tuesday morning,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Greenlight Capital Re Stock Down 2.8%

Shares of NASDAQ:GLRE opened at $12.24 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $12.77 and a 200 day simple moving average of $13.34. The firm has a market cap of $418.61 million, a PE ratio of 11.44 and a beta of 0.60. Greenlight Capital Re has a 12-month low of $12.14 and a 12-month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, August 4th. The financial services provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.36. The business had revenue of $179.63 million during the quarter. Greenlight Capital Re had a net margin of 5.37% and a return on equity of 5.75%.

Insider Buying and Selling at Greenlight Capital Re

In other Greenlight Capital Re news, insider Thomas James Curnock sold 11,500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $12.93, for a total transaction of $148,695.00. Following the completion of the sale, the insider owned 179,832 shares in the company, valued at $2,325,227.76. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ian Isaacs sold 8,393 shares of the business’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $12.79, for a total transaction of $107,346.47. Following the sale, the director owned 71,137 shares of the company’s stock, valued at approximately $909,842.23. The trade was a 10.55% decrease in their position. The disclosure for this sale can be found here. 23.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Greenlight Capital Re

Several hedge funds and other institutional investors have recently modified their holdings of GLRE. CWA Asset Management Group LLC boosted its holdings in shares of Greenlight Capital Re by 88.5% during the first quarter. CWA Asset Management Group LLC now owns 677,566 shares of the financial services provider’s stock valued at $9,181,000 after acquiring an additional 318,047 shares during the period. Invesco Ltd. lifted its holdings in Greenlight Capital Re by 284.9% in the first quarter. Invesco Ltd. now owns 233,227 shares of the financial services provider’s stock worth $3,160,000 after purchasing an additional 172,639 shares during the period. Private Management Group Inc. lifted its holdings in Greenlight Capital Re by 11.2% in the first quarter. Private Management Group Inc. now owns 1,034,365 shares of the financial services provider’s stock worth $14,016,000 after purchasing an additional 103,886 shares during the period. Nuveen LLC acquired a new stake in Greenlight Capital Re in the first quarter worth about $1,142,000. Finally, Wedge Capital Management L L P NC acquired a new stake in Greenlight Capital Re in the second quarter worth about $964,000. Institutional investors and hedge funds 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.