StockNews.com Lowers Greenlight Capital Re (NASDAQ:GLRE) to Hold

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

Greenlight Capital Re Stock Up 1.7 %

Shares of NASDAQ:GLRE opened at $13.46 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.09 and a quick ratio of 3.09. The stock has a market cap of $475.42 million, a price-to-earnings ratio of 4.50 and a beta of 0.84. The company has a 50 day moving average of $12.92 and a 200-day moving average of $12.55. Greenlight Capital Re has a one year low of $10.45 and a one year high of $13.96.

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 analysts’ consensus estimates of $0.25 by ($0.02). The business had revenue of $174.86 million during the quarter. Greenlight Capital Re had a net margin of 15.69% and a return on equity of 18.32%.

Institutional Investors Weigh In On Greenlight Capital Re

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in shares of Greenlight Capital Re during the 2nd quarter worth about $37,000. CWM LLC grew its holdings in Greenlight Capital Re by 37.3% during the second quarter. CWM LLC now owns 3,702 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,005 shares during the period. Bfsg LLC increased its stake in Greenlight Capital Re by 161.9% in the first quarter. Bfsg LLC now owns 4,610 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 2,850 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Greenlight Capital Re in the second quarter worth $138,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Greenlight Capital Re by 40.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 11,521 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 3,315 shares in the last quarter. Institutional investors own 41.52% of the company’s stock.

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.