Greenlight Capital Re (NASDAQ:GLRE) Raised to “Buy” at StockNews.com

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

Greenlight Capital Re Stock Down 0.3 %

Greenlight Capital Re stock traded down $0.04 during mid-day trading on Wednesday, hitting $12.47. The company’s stock had a trading volume of 85,593 shares, compared to its average volume of 76,190. The firm’s 50 day moving average is $12.92 and its 200 day moving average is $12.48. Greenlight Capital Re has a 52-week low of $10.45 and a 52-week high of $13.96. The company has a market cap of $440.45 million, a PE ratio of 4.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.09 and a quick ratio of 3.09.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Tuesday, August 6th. The financial services provider reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). Greenlight Capital Re had a net margin of 15.69% and a return on equity of 18.32%. The firm had revenue of $174.86 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLRE. Sierra Summit Advisors LLC increased its stake in shares of Greenlight Capital Re by 16.3% in the 2nd quarter. Sierra Summit Advisors LLC now owns 51,409 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 7,191 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Greenlight Capital Re by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,040,466 shares of the financial services provider’s stock worth $26,730,000 after acquiring an additional 48,317 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Greenlight Capital Re by 36.3% during the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock worth $4,543,000 after buying an additional 92,364 shares in the last quarter. Private Management Group Inc. boosted its holdings in Greenlight Capital Re by 37.3% in the second quarter. Private Management Group Inc. now owns 621,021 shares of the financial services provider’s stock worth $8,135,000 after acquiring an additional 168,708 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Greenlight Capital Re by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 45,874 shares of the financial services provider’s stock valued at $601,000 after purchasing an additional 2,923 shares during the last quarter. 41.52% of the stock is currently 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.