Greenlight Capital Re (NASDAQ:GLRE) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Greenlight Capital Re (NASDAQ:GLRE - Free Report) from a buy rating to a hold rating in a research report released on Wednesday.

Greenlight Capital Re Price Performance

NASDAQ GLRE traded up $0.21 during trading hours on Wednesday, reaching $14.13. The company's stock had a trading volume of 56,677 shares, compared to its average volume of 92,053. Greenlight Capital Re has a fifty-two week low of $10.95 and a fifty-two week high of $15.82. The stock has a market cap of $492.18 million, a PE ratio of 5.61 and a beta of 0.89. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02. The company's 50-day moving average is $14.42 and its two-hundred day moving average is $13.77.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.36. Greenlight Capital Re had a return on equity of 13.95% and a net margin of 12.38%. The firm had revenue of $188.01 million for the quarter. During the same period in the previous year, the company posted $0.39 EPS.

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Greenlight Capital Re by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider's stock valued at $26,730,000 after buying an additional 48,317 shares during the period. Private Management Group Inc. lifted its stake in shares of Greenlight Capital Re by 27.8% during the 3rd quarter. Private Management Group Inc. now owns 793,544 shares of the financial services provider's stock worth $10,832,000 after purchasing an additional 172,523 shares during the period. State Street Corp boosted its holdings in shares of Greenlight Capital Re by 1.1% during the third quarter. State Street Corp now owns 575,930 shares of the financial services provider's stock worth $7,861,000 after purchasing an additional 6,319 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Greenlight Capital Re in the third quarter valued at $4,972,000. Finally, American Century Companies Inc. increased its stake in Greenlight Capital Re by 36.3% in the second quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider's stock valued at $4,543,000 after purchasing an additional 92,364 shares during the last quarter. 41.52% of the stock is currently owned by hedge funds and other institutional investors.

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.