Greenlight Capital Re (NASDAQ:GLRE) Upgraded at Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other research analysts have also recently weighed in on GLRE. Zacks Research raised shares of Greenlight Capital Re to a “hold” rating in a report on Wednesday. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Greenlight Capital Re has an average rating of “Moderate Buy”.

Greenlight Capital Re Stock Down 1.4%

GLRE opened at $15.67 on Friday. Greenlight Capital Re has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.46 and a current ratio of 2.46. The company has a fifty day moving average of $17.67 and a two-hundred day moving average of $15.28. The stock has a market capitalization of $519.71 million, a price-to-earnings ratio of 6.61 and a beta of 0.38.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Tuesday, May 5th. The financial services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.20). Greenlight Capital Re had a net margin of 11.47% and a return on equity of 11.69%. The firm had revenue of $189.66 million during the quarter, compared to analysts’ expectations of $160.88 million. On average, research analysts expect that Greenlight Capital Re will post 2 earnings per share for the current year.

Insider Transactions at Greenlight Capital Re

In other news, Director Joseph P. Platt, Jr. sold 11,747 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $16.87, for a total transaction of $198,171.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel David Sigmon sold 7,500 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $17.33, for a total transaction of $129,975.00. Following the transaction, the general counsel owned 32,678 shares in the company, valued at $566,309.74. The trade was a 18.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 62,500 shares of company stock valued at $1,097,117 in the last three months. Corporate insiders own 24.67% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Management Group Inc. boosted its position in Greenlight Capital Re by 25.6% during the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock worth $21,903,000 after acquiring an additional 306,468 shares during the last quarter. Vanguard Group Inc. boosted its position in Greenlight Capital Re by 3.5% during the third quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock worth $18,667,000 after acquiring an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC boosted its position in Greenlight Capital Re by 6.9% during the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after acquiring an additional 62,707 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Greenlight Capital Re by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after acquiring an additional 2,180 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Greenlight Capital Re by 4.1% during the fourth quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock worth $4,963,000 after acquiring an additional 13,430 shares during the last quarter. 41.52% of the stock is currently owned by institutional investors and hedge funds.

Greenlight Capital Re Company Profile

Greenlight Capital Re Ltd. (NASDAQ: GLRE) is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent’s investment platform.

The company’s core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.