Greenlight Capital Re (NASDAQ:GLRE) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a hold rating in a research report report published on Saturday morning.

Greenlight Capital Re Stock Performance

Shares of GLRE opened at $14.33 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.09. The firm has a market cap of $495.17 million, a PE ratio of 11.11 and a beta of 0.66. The company’s 50 day simple moving average is $14.01 and its 200-day simple moving average is $13.71. Greenlight Capital Re has a 12-month low of $11.95 and a 12-month high of $15.82.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.36. The business had revenue of $247.95 million for the quarter. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%.

Insider Buying and Selling

In related news, Director Ian Isaacs sold 13,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total transaction of $193,960.00. Following the completion of the sale, the director directly owned 71,484 shares of the company’s stock, valued at $1,066,541.28. This trade represents a 15.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Patrick O’brien sold 7,500 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $13.48, for a total value of $101,100.00. Following the sale, the chief operating officer directly owned 182,925 shares of the company’s stock, valued at approximately $2,465,829. This represents a 3.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,500 shares of company stock worth $361,160. Insiders own 23.55% of the company’s stock.

Institutional Investors Weigh In On Greenlight Capital Re

Hedge funds have recently modified their holdings of the stock. Aquatic Capital Management LLC lifted its holdings in shares of Greenlight Capital Re by 374.4% during the fourth quarter. Aquatic Capital Management LLC now owns 3,795 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 2,995 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Greenlight Capital Re by 5,284.0% during the first quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 3,963 shares during the period. Bfsg LLC lifted its holdings in shares of Greenlight Capital Re by 11.5% during the first quarter. Bfsg LLC now owns 8,260 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 855 shares during the period. Bailard Inc. acquired a new stake in shares of Greenlight Capital Re during the first quarter worth $138,000. Finally, Virtu Financial LLC acquired a new stake in shares of Greenlight Capital Re during the first quarter worth $156,000. 41.52% of the stock is owned by institutional investors and hedge funds.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.