Stevens Capital Management LP bought a new stake in Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,467 shares of the financial services provider’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Usca Ria LLC raised its position in Greenlight Reinsurance by 1.0% during the 2nd quarter. Usca Ria LLC now owns 24,850 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 250 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Greenlight Reinsurance by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,861 shares of the financial services provider’s stock valued at $479,000 after purchasing an additional 649 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Greenlight Reinsurance by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,135 shares of the financial services provider’s stock valued at $2,449,000 after purchasing an additional 665 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in Greenlight Reinsurance by 5.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 13,764 shares of the financial services provider’s stock valued at $304,000 after purchasing an additional 699 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Greenlight Reinsurance by 1.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 94,232 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 998 shares during the last quarter. 45.16% of the stock is owned by institutional investors.

A number of research analysts have commented on GLRE shares. ValuEngine lowered Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. BidaskClub raised Greenlight Reinsurance from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research raised Greenlight Reinsurance from a “sell” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday, August 4th.

Greenlight Reinsurance, Ltd. (GLRE) opened at $21.80 on Tuesday. The company has a market capitalization of $808.60, a P/E ratio of 19.68 and a beta of 0.78. Greenlight Reinsurance, Ltd. has a 52-week low of $19.70 and a 52-week high of $24.10.

Greenlight Reinsurance (NASDAQ:GLRE) last posted its earnings results on Monday, October 30th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.26). Greenlight Reinsurance had a return on equity of 4.74% and a net margin of 5.91%. The firm had revenue of $236.15 million for the quarter, compared to analysts’ expectations of $200.80 million. equities analysts predict that Greenlight Reinsurance, Ltd. will post 0.05 earnings per share for the current year.

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About Greenlight Reinsurance

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for significant losses emanating from one event or multiple events.

Institutional Ownership by Quarter for Greenlight Reinsurance (NASDAQ:GLRE)

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