Greenlight Capital Re (NASDAQ:GLRE) Issues Earnings Results

Greenlight Capital Re (NASDAQ:GLRE) posted its earnings results on Tuesday. The financial services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.20), FiscalAI reports. The business had revenue of $189.66 million for the quarter, compared to analyst estimates of $180.76 million. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.

Greenlight Capital Re Stock Up 1.9%

Shares of NASDAQ GLRE traded up $0.33 during midday trading on Tuesday, reaching $17.90. The company’s stock had a trading volume of 146,908 shares, compared to its average volume of 205,108. Greenlight Capital Re has a fifty-two week low of $11.56 and a fifty-two week high of $19.39. The stock has a market capitalization of $608.24 million, a price-to-earnings ratio of 8.21 and a beta of 0.38. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $16.78 and a 200-day simple moving average of $14.66.

Analyst Ratings Changes

Several brokerages have issued reports on GLRE. Weiss Ratings raised shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Greenlight Capital Re from a “buy” rating to a “strong-buy” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Greenlight Capital Re currently has an average rating of “Buy”.

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors have recently modified their holdings of GLRE. Quadrant Capital Group LLC increased its stake in Greenlight Capital Re by 7,213.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,627 shares during the period. Russell Investments Group Ltd. boosted its holdings in Greenlight Capital Re by 184.6% in the third quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,749 shares during the last quarter. Oxford Asset Management LLP bought a new stake in shares of Greenlight Capital Re in the 4th quarter valued at $177,000. Finally, Squarepoint Ops LLC bought a new position in shares of Greenlight Capital Re in the 3rd quarter worth about $164,000. 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.