Greenlight Capital Re, Ltd. (NASDAQ:GLRE) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $12.10 and last traded at $12.05, with a volume of 9625 shares trading hands. The stock had previously closed at $12.55.

Several equities research analysts recently issued reports on GLRE shares. BidaskClub cut Greenlight Capital Re from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. ValuEngine cut Greenlight Capital Re from a “hold” rating to a “sell” rating in a research note on Tuesday, May 29th. Finally, Zacks Investment Research upgraded Greenlight Capital Re from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Greenlight Capital Re has an average rating of “Hold” and a consensus price target of $20.50.

The company has a market capitalization of $482.35 million, a price-to-earnings ratio of -10.14 and a beta of 0.85.

Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Tuesday, July 31st. The financial services provider reported ($1.01) earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $103.40 million. sell-side analysts anticipate that Greenlight Capital Re, Ltd. will post -4.45 earnings per share for the current fiscal year.

In other Greenlight Capital Re news, Director Leonard R. Goldberg bought 12,000 shares of the business’s stock in a transaction on Wednesday, June 6th. The stock was purchased at an average cost of $15.25 per share, for a total transaction of $183,000.00. Following the completion of the purchase, the director now directly owns 166,641 shares of the company’s stock, valued at $2,541,275.25. The acquisition was disclosed in a filing with the SEC, which is available at this link. 21.38% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP increased its holdings in shares of Greenlight Capital Re by 18.0% during the second quarter. First Trust Advisors LP now owns 33,325 shares of the financial services provider’s stock worth $473,000 after buying an additional 5,078 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Greenlight Capital Re by 1.4% during the first quarter. Northern Trust Corp now owns 362,111 shares of the financial services provider’s stock worth $5,812,000 after buying an additional 5,102 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Greenlight Capital Re by 83.5% during the first quarter. JPMorgan Chase & Co. now owns 11,921 shares of the financial services provider’s stock worth $191,000 after buying an additional 5,423 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Greenlight Capital Re by 58.7% during the first quarter. Legal & General Group Plc now owns 15,918 shares of the financial services provider’s stock worth $255,000 after buying an additional 5,885 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Greenlight Capital Re by 125.4% during the first quarter. Barclays PLC now owns 10,842 shares of the financial services provider’s stock worth $173,000 after buying an additional 6,032 shares in the last quarter. Hedge funds and other institutional investors own 43.31% of the company’s stock.

About Greenlight Capital Re (NASDAQ:GLRE)

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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