Greenlight Capital Re (NASDAQ:GLRE) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research note released on Wednesday.

Greenlight Capital Re Stock Performance

NASDAQ GLRE opened at $13.22 on Wednesday. The firm has a market capitalization of $460.48 million, a price-to-earnings ratio of 5.25 and a beta of 0.86. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 0.09. The firm’s 50 day simple moving average is $13.64 and its 200 day simple moving average is $13.94. Greenlight Capital Re has a 1 year low of $11.72 and a 1 year high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings data on Monday, March 10th. The financial services provider reported ($0.81) EPS for the quarter, missing the consensus estimate of $0.59 by ($1.40). The company had revenue of $143.76 million during the quarter. Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%.

Hedge Funds Weigh In On Greenlight Capital Re

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new stake in shares of Greenlight Capital Re during the fourth quarter worth $186,000. Two Sigma Advisers LP increased its position in shares of Greenlight Capital Re by 139.0% during the fourth quarter. Two Sigma Advisers LP now owns 94,900 shares of the financial services provider’s stock worth $1,329,000 after buying an additional 55,200 shares during the period. Two Sigma Investments LP increased its position in shares of Greenlight Capital Re by 41.3% during the fourth quarter. Two Sigma Investments LP now owns 94,212 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 27,519 shares during the period. Millennium Management LLC acquired a new position in shares of Greenlight Capital Re during the fourth quarter valued at about $1,341,000. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Greenlight Capital Re by 26.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 74,005 shares of the financial services provider’s stock valued at $1,036,000 after buying an additional 15,645 shares during the last quarter. Institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

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.