Greenlight Capital Re (NASDAQ:GLRE) Lowered to “Hold” Rating by StockNews.com

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

Greenlight Capital Re Stock Down 3.2 %

Shares of NASDAQ:GLRE opened at $12.85 on Wednesday. Greenlight Capital Re has a 52-week low of $11.72 and a 52-week high of $15.82. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02. The business’s 50 day simple moving average is $13.67 and its two-hundred day simple moving average is $13.95. The firm has a market cap of $447.59 million, a P/E ratio of 5.10 and a beta of 0.86.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.40). Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The company had revenue of $143.76 million during the quarter.

Institutional Trading of Greenlight Capital Re

A number of hedge funds have recently bought and sold shares of GLRE. JPMorgan Chase & Co. increased its position in Greenlight Capital Re by 288.2% in the third quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock worth $664,000 after buying an additional 36,116 shares during the last quarter. Barclays PLC boosted its stake in Greenlight Capital Re by 275.5% during the third quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock valued at $493,000 after buying an additional 26,468 shares during the period. Empowered Funds LLC boosted its stake 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 buying an additional 46,764 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re during the third quarter worth about $1,188,000. Finally, State Street Corp lifted its stake in shares of Greenlight Capital Re by 1.1% in the 3rd quarter. State Street Corp now owns 575,930 shares of the financial services provider’s stock valued at $7,861,000 after acquiring an additional 6,319 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors.

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.