Greenlight Reinsurance, Ltd. (GLRE) Upgraded to Buy by ValuEngine
Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
A number of other equities analysts have also commented on the company. Zacks Investment Research raised Greenlight Reinsurance from a “strong sell” rating to a “hold” rating in a report on Monday, May 8th. TheStreet lowered Greenlight Reinsurance from a “b-” rating to a “c+” rating in a report on Tuesday, May 9th.
Greenlight Reinsurance (NASDAQ GLRE) traded up 0.24% during trading on Friday, hitting $21.10. The stock had a trading volume of 64,725 shares. The stock has a market capitalization of $789.94 million, a P/E ratio of 32.51 and a beta of 0.76. Greenlight Reinsurance has a 52 week low of $18.97 and a 52 week high of $24.10. The company has a 50-day moving average of $20.39 and a 200-day moving average of $21.94.
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A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in Greenlight Reinsurance by 9.7% in the fourth quarter. State Street Corp now owns 631,636 shares of the financial services provider’s stock valued at $14,398,000 after buying an additional 55,606 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Greenlight Reinsurance by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,635,474 shares of the financial services provider’s stock valued at $37,289,000 after buying an additional 105,305 shares in the last quarter. Renaissance Technologies LLC raised its stake in Greenlight Reinsurance by 247.2% in the fourth quarter. Renaissance Technologies LLC now owns 174,284 shares of the financial services provider’s stock valued at $3,974,000 after buying an additional 124,084 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Greenlight Reinsurance during the fourth quarter valued at about $1,947,000. Finally, Norges Bank acquired a new stake in Greenlight Reinsurance during the fourth quarter valued at about $6,623,000. 47.80% of the stock is owned by institutional investors.
About Greenlight Reinsurance
Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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