Greenlight Capital Re (NASDAQ:GLRE) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a strong-buy rating to a buy rating in a research report released on Saturday morning.

Separately, Weiss Ratings raised Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Greenlight Capital Re presently has a consensus rating of “Buy”.

Greenlight Capital Re Stock Up 0.8%

Shares of GLRE stock opened at $17.99 on Friday. The stock’s 50-day simple moving average is $15.08 and its 200-day simple moving average is $13.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.84 and a current ratio of 2.84. The firm has a market capitalization of $611.30 million, a PE ratio of 8.25 and a beta of 0.39. Greenlight Capital Re has a fifty-two week low of $11.56 and a fifty-two week high of $18.14.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.32. The business had revenue of $210.30 million for the quarter. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.

Institutional Trading of Greenlight Capital Re

A number of hedge funds have recently modified their holdings of the stock. Private Management Group Inc. boosted its stake in shares of 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 worth $21,903,000 after buying an additional 306,468 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Greenlight Capital Re by 3.5% in the third quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock worth $18,667,000 after buying an additional 49,929 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Greenlight Capital Re by 6.9% in the fourth quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock worth $14,246,000 after buying an additional 62,707 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Greenlight Capital Re by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock worth $9,532,000 after buying an additional 2,180 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Greenlight Capital Re by 4.1% in the fourth quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock worth $4,963,000 after buying an additional 13,430 shares during the last quarter. Hedge funds and other 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.