Greenlight Capital Re (NASDAQ:GLRE) Cut to “Hold” at StockNews.com

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

Greenlight Capital Re Trading Up 1.7 %

GLRE opened at $13.46 on Thursday. The stock has a market capitalization of $475.42 million, a PE ratio of 4.50 and a beta of 0.84. Greenlight Capital Re has a 12-month low of $10.45 and a 12-month high of $13.96. The firm’s fifty day moving average price is $12.92 and its 200 day moving average price is $12.54. 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 quarterly earnings results on Tuesday, August 6th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $174.86 million for the quarter. Greenlight Capital Re had a net margin of 15.69% and a return on equity of 18.32%.

Hedge Funds Weigh In On Greenlight Capital Re

Several large investors have recently made changes to their positions in GLRE. AQR Capital Management LLC grew its stake in shares of Greenlight Capital Re by 48.1% in the 2nd quarter. AQR Capital Management LLC now owns 25,399 shares of the financial services provider’s stock valued at $333,000 after purchasing an additional 8,246 shares during the period. Bank of Montreal Can acquired a new position in shares of Greenlight Capital Re in the 2nd quarter valued at $894,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Greenlight Capital Re in the 2nd quarter valued at $138,000. Sierra Summit Advisors LLC raised its stake in Greenlight Capital Re by 16.3% during the 2nd quarter. Sierra Summit Advisors LLC now owns 51,409 shares of the financial services provider’s stock worth $673,000 after buying an additional 7,191 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Greenlight Capital Re by 2.4% during 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 buying an additional 48,317 shares during the period. Institutional investors and hedge funds own 41.52% of the company’s stock.

About Greenlight Capital Re

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.