Greenlight Capital Re (NASDAQ:GLRE) Upgraded to "Buy" at StockNews.com

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued to investors on Friday.

Greenlight Capital Re Stock Performance

GLRE traded down $0.02 during trading on Friday, reaching $14.76. The company's stock had a trading volume of 107,291 shares, compared to its average volume of 84,485. The company has a market capitalization of $521.32 million, a price-to-earnings ratio of 5.86 and a beta of 0.85. The company's fifty day moving average price is $13.80 and its 200-day moving average price is $13.27. Greenlight Capital Re has a 52-week low of $10.49 and a 52-week high of $15.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.00 and a current ratio of 3.00.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.36. The firm had revenue of $188.01 million for the quarter. Greenlight Capital Re had a return on equity of 14.21% and a net margin of 12.38%. During the same quarter last year, the firm earned $0.39 earnings per share.

Insider Activity

In other news, Director Ian Isaacs sold 7,159 shares of Greenlight Capital Re stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $13.81, for a total transaction of $98,865.79. Following the completion of the sale, the director now directly owns 86,984 shares in the company, valued at approximately $1,201,249.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.79% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in shares of Greenlight Capital Re during the 2nd quarter worth approximately $37,000. CWM LLC increased its position in Greenlight Capital Re by 37.3% during the second quarter. CWM LLC now owns 3,702 shares of the financial services provider's stock worth $48,000 after buying an additional 1,005 shares in the last quarter. Bfsg LLC raised its holdings in shares of Greenlight Capital Re by 25.8% in the third quarter. Bfsg LLC now owns 6,535 shares of the financial services provider's stock worth $89,000 after acquiring an additional 1,340 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Greenlight Capital Re in the third quarter valued at $133,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Greenlight Capital Re during the second quarter valued at $138,000. Hedge funds and other institutional investors own 41.52% of the company's stock.

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.