Greenlight Capital Re (NASDAQ:GLRE) Upgraded at Wall Street Zen
by Jessica Moore · The Cerbat GemWall Street Zen upgraded shares of Greenlight Capital Re (NASDAQ:GLRE – Free Report) from a buy rating to a strong-buy rating in a report published on Saturday morning.
Separately, Weiss Ratings upgraded shares of Greenlight Capital Re from a “hold (c)” rating to a “buy (b+)” rating in a research note on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat, Greenlight Capital Re has a consensus rating of “Buy”.
Get Our Latest Analysis on GLRE
Greenlight Capital Re Trading Down 0.7%
Shares of Greenlight Capital Re stock opened at $18.86 on Friday. The company’s fifty day simple moving average is $16.44 and its 200-day simple moving average is $14.50. The stock has a market capitalization of $640.86 million, a PE ratio of 8.65 and a beta of 0.39. Greenlight Capital Re has a 1-year low of $11.56 and a 1-year high of $19.39. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84.
Greenlight Capital Re (NASDAQ:GLRE – Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.32. The business had revenue of $210.30 million for the quarter. Greenlight Capital Re had a net margin of 10.25% and a return on equity of 11.10%.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Private Management Group Inc. lifted its stake 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 valued at $21,903,000 after buying an additional 306,468 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Greenlight Capital Re by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,469,818 shares of the financial services provider’s stock valued at $18,667,000 after buying an additional 49,929 shares in the last quarter. CWA Asset Management Group LLC lifted its stake in shares of Greenlight Capital Re by 6.9% during the 4th quarter. CWA Asset Management Group LLC now owns 977,105 shares of the financial services provider’s stock valued at $14,246,000 after buying an additional 62,707 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Greenlight Capital Re by 0.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 663,297 shares of the financial services provider’s stock valued at $9,532,000 after buying an additional 2,180 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Greenlight Capital Re by 4.1% during the 4th quarter. Wells Fargo & Company MN now owns 340,375 shares of the financial services provider’s stock valued at $4,963,000 after buying an additional 13,430 shares in the last quarter. Hedge funds and other institutional investors own 41.52% of the company’s stock.
About Greenlight Capital Re
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.