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

StockNews.com lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a report issued on Thursday.

Greenlight Capital Re Stock Up 1.7 %

Shares of NASDAQ:GLRE opened at $13.46 on Thursday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.12. Greenlight Capital Re has a 52-week low of $10.45 and a 52-week high of $13.96. The company has a 50 day moving average of $12.92 and a two-hundred day moving average of $12.54. The company has a market capitalization of $475.42 million, a price-to-earnings ratio of 4.50 and a beta of 0.84.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). Greenlight Capital Re had a return on equity of 18.32% and a net margin of 15.69%. The firm had revenue of $174.86 million for the quarter.

Hedge Funds Weigh In On Greenlight Capital Re

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its position in shares of Greenlight Capital Re by 40.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,521 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 3,315 shares during the period. Private Management Group Inc. boosted its holdings in Greenlight Capital Re by 39.5% during the fourth quarter. Private Management Group Inc. now owns 267,693 shares of the financial services provider’s stock worth $3,057,000 after buying an additional 75,788 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Greenlight Capital Re by 41.1% during the fourth quarter. BNP Paribas Financial Markets now owns 49,634 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 14,452 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Greenlight Capital Re by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,902,489 shares of the financial services provider’s stock worth $21,726,000 after purchasing an additional 104,721 shares during the period. Finally, Independent Advisor Alliance raised its position in Greenlight Capital Re by 8.8% in the 4th quarter. Independent Advisor Alliance now owns 51,787 shares of the financial services provider’s stock valued at $591,000 after buying an additional 4,200 shares during the last quarter. 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.