Greenlight Capital Re (NASDAQ:GLRE) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.

Several other research firms have also recently issued reports on GLRE. Zacks Investment Research upgraded Greenlight Capital Re from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 6th. ValuEngine cut Greenlight Capital Re from a “hold” rating to a “sell” rating in a research report on Tuesday, May 29th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. Greenlight Capital Re currently has an average rating of “Hold” and a consensus price target of $20.50.

Shares of GLRE stock opened at $12.25 on Wednesday. The stock has a market capitalization of $482.35 million, a P/E ratio of -10.12 and a beta of 0.85. Greenlight Capital Re has a 52-week low of $12.00 and a 52-week high of $23.00.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Tuesday, July 31st. The financial services provider reported ($1.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.05) by $0.04. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%. The firm had revenue of $88.08 million for the quarter, compared to analysts’ expectations of $103.40 million. equities analysts expect that Greenlight Capital Re will post -4.45 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Greenlight Capital Re during the 1st quarter worth approximately $102,000. Barclays PLC increased its position in Greenlight Capital Re by 125.4% during the 1st quarter. Barclays PLC now owns 10,842 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 6,032 shares during the period. JPMorgan Chase & Co. increased its position in Greenlight Capital Re by 83.5% during the 1st quarter. JPMorgan Chase & Co. now owns 11,921 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 5,423 shares during the period. Legal & General Group Plc increased its position in Greenlight Capital Re by 58.7% during the 1st quarter. Legal & General Group Plc now owns 15,918 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 5,885 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Greenlight Capital Re during the 1st quarter worth approximately $282,000. Institutional investors own 43.31% of the company’s stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.

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