Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “

Several other equities analysts also recently issued reports on the stock. ValuEngine downgraded shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.

Greenlight Reinsurance (NASDAQ:GLRE) traded up 1.19% during trading on Friday, hitting $21.20. The company’s stock had a trading volume of 252,785 shares. Greenlight Reinsurance has a one year low of $19.25 and a one year high of $24.10. The firm has a market cap of $791.63 million, a PE ratio of 15.20 and a beta of 0.75. The company has a 50-day moving average of $21.95 and a 200 day moving average of $21.35.

Greenlight Reinsurance (NASDAQ:GLRE) last released its quarterly earnings data on Monday, July 31st. The financial services provider reported ($0.96) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.04. Greenlight Reinsurance had a net margin of 8.42% and a return on equity of 5.96%. The company had revenue of $121.48 million during the quarter, compared to the consensus estimate of $139.90 million. On average, equities analysts forecast that Greenlight Reinsurance will post $0.77 earnings per share for the current year.

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In other news, Director Leonard R. Goldberg sold 1,754 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total transaction of $39,921.04. Following the completion of the sale, the director now owns 170,021 shares in the company, valued at $3,869,677.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Leonard R. Goldberg sold 1,659 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total transaction of $37,742.25. Following the sale, the director now owns 170,021 shares of the company’s stock, valued at approximately $3,867,977.75. The disclosure for this sale can be found here. Insiders have sold 7,546 shares of company stock valued at $170,771 in the last quarter. Insiders own 21.81% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Greenlight Reinsurance by 22.1% during the second quarter. Advisory Services Network LLC now owns 13,113 shares of the financial services provider’s stock worth $274,000 after buying an additional 2,370 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Greenlight Reinsurance by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 22,861 shares of the financial services provider’s stock worth $479,000 after buying an additional 649 shares during the period. State Street Corp boosted its stake in shares of Greenlight Reinsurance by 4.9% during the second quarter. State Street Corp now owns 600,463 shares of the financial services provider’s stock worth $12,549,000 after buying an additional 28,255 shares during the period. Southeast Asset Advisors Inc. boosted its stake in shares of Greenlight Reinsurance by 2.6% during the second quarter. Southeast Asset Advisors Inc. now owns 209,885 shares of the financial services provider’s stock worth $4,387,000 after buying an additional 5,300 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Greenlight Reinsurance by 1.1% during the second quarter. Goldman Sachs Group Inc. now owns 94,232 shares of the financial services provider’s stock worth $1,969,000 after buying an additional 998 shares during the period. Institutional investors and hedge funds own 45.43% of the company’s stock.

Greenlight Reinsurance Company Profile

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.

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