Greenlight Reinsurance (NASDAQ:GLRE) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other brokerages have also commented on GLRE. Zacks Investment Research upgraded shares of Greenlight Reinsurance from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, November 28th. ValuEngine lowered shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, TheStreet upgraded shares of Greenlight Reinsurance from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st.

Greenlight Reinsurance (NASDAQ GLRE) traded up $0.95 during trading on Friday, hitting $21.20. 244,864 shares of the company were exchanged, compared to its average volume of 101,862. Greenlight Reinsurance has a 52 week low of $19.70 and a 52 week high of $24.10. The firm has a market cap of $756.28, a P/E ratio of 18.41 and a beta of 0.77.

Greenlight Reinsurance (NASDAQ:GLRE) last released its earnings results 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). Greenlight Reinsurance had a net margin of 5.91% and a return on equity of 4.74%. The company had revenue of $236.15 million for the quarter, compared to analyst estimates of $200.80 million. analysts predict that Greenlight Reinsurance will post -0.95 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Greenlight Reinsurance by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,513,766 shares of the financial services provider’s stock valued at $52,538,000 after purchasing an additional 73,367 shares in the last quarter. Fiduciary Management Inc. WI increased its stake in Greenlight Reinsurance by 0.6% during the 2nd quarter. Fiduciary Management Inc. WI now owns 2,065,537 shares of the financial services provider’s stock valued at $43,170,000 after purchasing an additional 11,692 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Greenlight Reinsurance by 4.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,033,550 shares of the financial services provider’s stock valued at $44,026,000 after purchasing an additional 95,745 shares in the last quarter. State Street Corp increased its stake in Greenlight Reinsurance by 4.9% during the 2nd quarter. State Street Corp now owns 600,463 shares of the financial services provider’s stock valued at $12,549,000 after purchasing an additional 28,255 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Greenlight Reinsurance by 3.1% during the 2nd quarter. Northern Trust Corp now owns 373,483 shares of the financial services provider’s stock valued at $7,805,000 after purchasing an additional 11,095 shares in the last quarter. Institutional investors and hedge funds own 46.96% of the company’s stock.

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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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