Zacks: Greenlight Capital Re, Ltd. (GLRE) Receives Average Recommendation of “Strong Buy” from Analysts

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Zacks has also given Greenlight Capital Re an industry rank of 62 out of 265 based on the ratings given to related companies.

A number of research analysts recently weighed in on GLRE shares. ValuEngine cut shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Zacks Investment Research cut shares of Greenlight Capital Re from a “buy” rating to a “hold” rating in a research note on Friday, December 8th. TheStreet upgraded shares of Greenlight Capital Re from a “c” rating to a “b-” rating in a research note on Wednesday, November 1st. Finally, BidaskClub cut shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a research note on Friday, December 15th.

Greenlight Capital Re (GLRE) remained flat at $$21.25 on Friday. 102,774 shares of the company’s stock traded hands, compared to its average volume of 117,388. Greenlight Capital Re has a 12-month low of $19.70 and a 12-month high of $24.00. The company has a market cap of $793.62, a PE ratio of 19.32 and a beta of 0.77.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Monday, October 30th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.26). Greenlight Capital Re had a net margin of 5.91% and a return on equity of 4.74%. The firm had revenue of $236.15 million for the quarter, compared to analysts’ expectations of $200.80 million. research analysts forecast that Greenlight Capital Re will post -0.75 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in GLRE. Dimensional Fund Advisors LP increased its holdings in Greenlight Capital Re by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,805 shares of the financial services provider’s stock valued at $40,500,000 after acquiring an additional 145,473 shares during the last quarter. Vanguard Group Inc. increased its holdings in Greenlight Capital Re by 3.0% in 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 acquiring an additional 73,367 shares during the last quarter. Systematic Financial Management LP bought a new stake in Greenlight Capital Re in the 2nd quarter valued at $1,434,000. Wells Fargo & Company MN increased its holdings in Greenlight Capital Re by 38.3% in the 3rd quarter. Wells Fargo & Company MN now owns 132,027 shares of the financial services provider’s stock valued at $2,858,000 after acquiring an additional 36,547 shares during the last quarter. Finally, Bessemer Group Inc. bought a new stake in Greenlight Capital Re in the 3rd quarter valued at $641,000. Institutional investors own 46.96% of the company’s stock.

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About Greenlight Capital Re

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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