Greenlight Reinsurance, Ltd. (GLRE) Given Consensus Recommendation of “Strong Buy” by Analysts
Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) has received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also assigned Greenlight Reinsurance an industry rank of 244 out of 265 based on the ratings given to related companies.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Wednesday, September 6th. TheStreet raised shares of Greenlight Reinsurance from a “c” rating to a “b-” rating in a report on Wednesday. ValuEngine lowered shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of Greenlight Reinsurance from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th.
In other Greenlight Reinsurance news, insider Sherry Diaz sold 3,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $23.00, for a total transaction of $70,265.00. Following the sale, the insider now directly owns 33,500 shares of the company’s stock, valued at approximately $770,500. The transaction was disclosed in a legal 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 that occurred on Tuesday, August 15th. The stock was sold at an average price of $22.76, for a total transaction of $39,921.04. Following the sale, the director now directly 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.
Several large investors have recently bought and sold shares of GLRE. Dimensional Fund Advisors LP boosted its stake in shares of Greenlight Reinsurance by 9.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,792,332 shares of the financial services provider’s stock valued at $39,611,000 after purchasing an additional 156,858 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Greenlight Reinsurance by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 2,440,399 shares of the financial services provider’s stock valued at $53,933,000 after purchasing an additional 149,781 shares during the last quarter. Systematic Financial Management LP bought a new stake in shares of Greenlight Reinsurance in the 2nd quarter valued at $1,434,000. Morgan Stanley boosted its stake in shares of Greenlight Reinsurance by 6.0% in the 1st quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock valued at $19,879,000 after purchasing an additional 50,646 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in shares of Greenlight Reinsurance in the 3rd quarter valued at $641,000. 45.48% of the stock is currently owned by institutional investors.
Shares of Greenlight Reinsurance (GLRE) remained flat at $$21.90 during trading hours on Friday. 74,957 shares of the company’s stock were exchanged, compared to its average volume of 103,093. The company has a market capitalization of $817.94, a price-to-earnings ratio of 19.91 and a beta of 0.78. Greenlight Reinsurance has a 1 year low of $19.65 and a 1 year high of $24.10.
Greenlight Reinsurance (NASDAQ:GLRE) last released its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.26). The company had revenue of $236.15 million for the quarter, compared to analyst estimates of $200.80 million. Greenlight Reinsurance had a return on equity of 4.74% and a net margin of 5.91%. equities research analysts predict that Greenlight Reinsurance will post 0.05 EPS for the current year.
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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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