Greenlight Capital Re (NASDAQ:GLRE) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a strong-buy rating to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings upgraded Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Greenlight Capital Re Price Performance

NASDAQ GLRE opened at $17.86 on Friday. The business’s fifty day moving average price is $16.93 and its 200-day moving average price is $14.74. The stock has a market capitalization of $606.88 million, a price-to-earnings ratio of 7.54 and a beta of 0.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.46 and a quick ratio of 2.84. Greenlight Capital Re has a 1-year low of $11.56 and a 1-year high of $19.39.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.20). The firm had revenue of $189.66 million for the quarter, compared to the consensus estimate of $160.88 million. Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%.

Institutional Investors Weigh In On Greenlight Capital Re

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake in shares of Greenlight Capital Re by 3,773.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,743 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,698 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Greenlight Capital Re by 7,213.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 3,174 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 1,627 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,749 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Greenlight Capital Re by 12.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 1,296 shares in the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.

The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.