Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Lowered by Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Other research analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. Zacks Research upgraded Greenlight Capital Re to a “hold” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Greenlight Capital Re currently has a consensus rating of “Moderate Buy”.

Greenlight Capital Re Trading Up 3.7%

Shares of Greenlight Capital Re stock opened at $15.53 on Friday. The company has a market capitalization of $515.13 million, a price-to-earnings ratio of 6.55 and a beta of 0.33. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.01. Greenlight Capital Re has a 12-month low of $11.56 and a 12-month high of $19.39. The firm’s 50-day moving average price is $17.52 and its two-hundred day moving average price is $15.35.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $160.88 million. On average, analysts forecast that Greenlight Capital Re will post 2 earnings per share for the current fiscal year.

Insider Activity

In other news, General Counsel David Sigmon sold 7,500 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $17.33, for a total value of $129,975.00. Following the completion of the transaction, the general counsel owned 32,678 shares of the company’s stock, valued at approximately $566,309.74. This represents a 18.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph P. Platt, Jr. sold 23,613 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $18.01, for a total transaction of $425,270.13. Following the completion of the transaction, the director directly owned 11,747 shares of the company’s stock, valued at $211,563.47. This trade represents a 66.78% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 62,500 shares of company stock valued at $1,097,117. Insiders own 24.67% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLRE. Private Management Group Inc. boosted its position in Greenlight Capital Re by 25.6% in the fourth quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider’s stock valued at $21,903,000 after buying an additional 306,468 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Greenlight Capital Re by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after acquiring an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC boosted its holdings in shares of Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after acquiring an additional 62,707 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after acquiring an additional 2,180 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Greenlight Capital Re by 4.1% during the 4th 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. Institutional investors own 41.52% of the company’s stock.

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.