Greenlight Reinsurance (NASDAQ:GLRE) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

GLRE has been the topic of a number of other research reports. Zacks Investment Research cut shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet upgraded shares of Greenlight Reinsurance from a “c” rating to a “b-” rating in a research report on Wednesday, November 1st.

Greenlight Reinsurance (NASDAQ:GLRE) traded down $0.15 during mid-day trading on Friday, hitting $20.90. 75,580 shares of the company’s stock were exchanged, compared to its average volume of 106,070. Greenlight Reinsurance has a 12-month low of $19.70 and a 12-month high of $24.10. The stock has a market capitalization of $780.59, a PE ratio of 19.14 and a beta of 0.77.

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 analysts’ consensus estimates of $0.79 by ($0.26). Greenlight Reinsurance had a net margin of 5.91% and a return on equity of 4.74%. The firm had revenue of $236.15 million during the quarter, compared to analysts’ expectations of $200.80 million. equities research analysts anticipate that Greenlight Reinsurance will post -0.95 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in GLRE. Teachers Advisors LLC increased its position in shares of Greenlight Reinsurance by 10.4% during the first quarter. Teachers Advisors LLC now owns 55,492 shares of the financial services provider’s stock valued at $1,226,000 after buying an additional 5,238 shares during the period. Geode Capital Management LLC increased its position in shares of Greenlight Reinsurance by 4.6% during the first quarter. Geode Capital Management LLC now owns 238,388 shares of the financial services provider’s stock valued at $5,268,000 after buying an additional 10,513 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Greenlight Reinsurance by 13.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 116,470 shares of the financial services provider’s stock valued at $2,574,000 after buying an additional 13,885 shares during the period. Aperio Group LLC increased its position in shares of Greenlight Reinsurance by 44.5% during the second quarter. Aperio Group LLC now owns 13,926 shares of the financial services provider’s stock valued at $291,000 after buying an additional 4,288 shares during the period. Finally, Monarch Partners Asset Management LLC increased its position in shares of Greenlight Reinsurance by 15.1% during the second quarter. Monarch Partners Asset Management LLC now owns 21,700 shares of the financial services provider’s stock valued at $454,000 after buying an additional 2,850 shares during the period. Institutional investors own 46.96% of the company’s stock.

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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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