Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

A number of other research analysts have also commented on the company. BidaskClub lowered Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. ValuEngine upgraded Greenlight Reinsurance from a “hold” rating to a “buy” rating in a research report on Friday, July 7th. Finally, TheStreet upgraded Greenlight Reinsurance from a “c” rating to a “b-” rating in a research report on Wednesday.

Shares of Greenlight Reinsurance (NASDAQ GLRE) traded down $0.05 on Friday, reaching $21.90. The company’s stock had a trading volume of 41,726 shares, compared to its average volume of 93,090. The stock has a market capitalization of $817.90 million, a P/E ratio of 19.91 and a beta of 0.79.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.26). The firm had revenue of $236.15 million during the quarter, compared to the consensus estimate of $200.80 million. Greenlight Reinsurance had a net margin of 5.91% and a return on equity of 4.74%. equities analysts forecast that Greenlight Reinsurance will post 0.5 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “Greenlight Reinsurance, Ltd. (GLRE) Upgraded to Hold at Zacks Investment Research” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/11/03/greenlight-reinsurance-ltd-glre-upgraded-to-hold-at-zacks-investment-research.html.

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

Institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors raised its stake in Greenlight Reinsurance by 72.0% during the 2nd quarter. Nationwide Fund Advisors now owns 38,808 shares of the financial services provider’s stock worth $811,000 after buying an additional 16,240 shares during the period. Two Sigma Investments LP acquired a new stake in Greenlight Reinsurance during the 4th quarter worth $1,947,000. Dimensional Fund Advisors LP raised its stake in Greenlight Reinsurance by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,635,474 shares of the financial services provider’s stock worth $37,289,000 after buying an additional 105,305 shares during the period. Bank of New York Mellon Corp raised its stake in Greenlight Reinsurance by 4.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 184,334 shares of the financial services provider’s stock worth $3,768,000 after buying an additional 7,040 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in Greenlight Reinsurance by 14.8% during the 4th quarter. CWA Asset Management Group LLC now owns 52,063 shares of the financial services provider’s stock worth $1,187,000 after buying an additional 6,709 shares during the period. 45.48% of the stock is currently owned by institutional investors and hedge funds.

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.

Get a free copy of the Zacks research report on Greenlight Reinsurance (GLRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Greenlight Reinsurance Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greenlight Reinsurance Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.