Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Upgraded by StockNews.com

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Greenlight Capital Re Stock Up 3.3 %

Shares of NASDAQ:GLRE traded up $0.45 during midday trading on Friday, hitting $13.90. 74,448 shares of the company’s stock traded hands, compared to its average volume of 84,607. The firm’s fifty day moving average price is $13.52 and its two-hundred day moving average price is $13.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00. Greenlight Capital Re has a twelve month low of $10.49 and a twelve month high of $14.31. The company has a market cap of $490.96 million, a PE ratio of 4.65 and a beta of 0.86.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $174.86 million during the quarter. Greenlight Capital Re had a return on equity of 10.88% and a net margin of 9.60%.

Insider Activity

In related news, Director Ian Isaacs sold 7,159 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $13.81, for a total transaction of $98,865.79. Following the sale, the director now directly owns 86,984 shares of the company’s stock, valued at approximately $1,201,249.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 22.79% of the company’s stock.

Institutional Trading of Greenlight Capital Re

A number of institutional investors and hedge funds have recently modified their holdings of GLRE. Campbell & CO Investment Adviser LLC bought a new position in Greenlight Capital Re in the fourth quarter worth about $409,000. ADAR1 Capital Management LLC bought a new position in Greenlight Capital Re during the 4th quarter worth $389,000. Quadrature Capital Ltd bought a new stake in Greenlight Capital Re in the fourth quarter valued at $218,000. BNP Paribas Financial Markets boosted its holdings in shares of Greenlight Capital Re by 2.9% during the first quarter. BNP Paribas Financial Markets now owns 51,052 shares of the financial services provider’s stock valued at $637,000 after acquiring an additional 1,418 shares during the period. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Greenlight Capital Re during the first quarter worth about $454,000. 41.52% of the stock is owned by institutional investors and hedge funds.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.