Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) was upgraded by stock analysts at TheStreet from a “c” rating to a “b-” rating in a note issued to investors on Wednesday.

A number of other research firms have also commented on GLRE. ValuEngine upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded Greenlight Reinsurance from a “sell” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, August 4th. Finally, BidaskClub upgraded Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd.

Greenlight Reinsurance (NASDAQ:GLRE) last posted its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.26). The business had revenue of $236.15 million during the quarter, compared to the consensus estimate of $200.80 million. Greenlight Reinsurance had a return on equity of 4.74% and a net margin of 5.91%.

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In related news, insider Sherry Diaz sold 3,055 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $23.00, for a total transaction of $70,265.00. Following the transaction, the insider now directly owns 33,500 shares in the company, valued at $770,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leonard R. Goldberg sold 1,754 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total value of $39,921.04. Following the transaction, the director now owns 170,021 shares in the company, valued at $3,869,677.96. The disclosure for this sale can be found here. Insiders own 21.81% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stevens Capital Management LP bought a new position in Greenlight Reinsurance during the third quarter valued at about $270,000. Aperio Group LLC increased its stake in Greenlight Reinsurance by 31.7% during the third quarter. Aperio Group LLC now owns 18,337 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 4,411 shares during the period. First Trust Advisors LP bought a new position in Greenlight Reinsurance during the third quarter valued at about $501,000. Advisory Services Network LLC increased its stake in 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 valued at $274,000 after acquiring an additional 2,370 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in 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 valued at $479,000 after acquiring an additional 649 shares during the period. Hedge funds and other institutional investors own 45.48% of the company’s stock.

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.

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