Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Lowered by Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings cut Greenlight Capital Re from a “buy (b)” rating to a “hold (c+)” rating in a research report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Greenlight Capital Re presently has an average rating of “Hold”.

Greenlight Capital Re Price Performance

Shares of Greenlight Capital Re stock opened at $14.75 on Friday. Greenlight Capital Re has a 12-month low of $11.56 and a 12-month high of $19.39. The firm has a market capitalization of $481.44 million, a PE ratio of 10.03 and a beta of 0.27. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $15.46 and its 200-day moving average is $16.46.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.54). The company had revenue of $137.46 million during the quarter, compared to analyst estimates of $165.31 million. Greenlight Capital Re had a net margin of 7.47% and a return on equity of 7.28%. Equities analysts anticipate that Greenlight Capital Re will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Leonard R. Goldberg bought 6,000 shares of Greenlight Capital Re stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $15.42 per share, for a total transaction of $92,520.00. Following the acquisition, the director owned 36,000 shares in the company, valued at $555,120. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ian Isaacs sold 5,150 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $14.90, for a total value of $76,735.00. Following the sale, the director directly owned 37,992 shares of the company’s stock, valued at $566,080.80. The trade was a 11.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,500 shares of company stock valued at $580,305 over the last quarter. Insiders own 24.67% of the company’s stock.

Hedge Funds Weigh In On Greenlight Capital Re

Institutional investors have recently modified their holdings of the company. Private Management Group Inc. boosted its holdings in shares of Greenlight Capital Re by 25.6% during the 4th 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 period. Empowered Funds LLC raised its holdings in Greenlight Capital Re by 9.8% in the 1st quarter. Empowered Funds LLC now owns 178,029 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 15,845 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Greenlight Capital Re by 64.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 127,798 shares of the financial services provider’s stock worth $2,210,000 after acquiring an additional 50,099 shares during the period. Bank of America Corp DE lifted its position in Greenlight Capital Re by 14.9% during the 1st quarter. Bank of America Corp DE now owns 88,059 shares of the financial services provider’s stock worth $1,523,000 after acquiring an additional 11,416 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Greenlight Capital Re during the 1st quarter worth $1,343,000. Institutional investors own 41.52% of the company’s stock.

About Greenlight Capital Re

Greenlight Capital Re, Ltd. was a Bermuda-based specialty property and casualty reinsurance company established in 2004. The company was founded with backing from Greenlight Capital and was designed to combine traditional reinsurance underwriting with alternative investment expertise.

Through its reinsurance operations, Greenlight Re provided customized coverage and capacity to insurance companies and other risk-bearing organizations. Its business included property, casualty and specialty lines, with underwriting focused on areas such as catastrophe-exposed property, workers’ compensation, liability and other commercial risks.