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 report issued on Friday morning.

Greenlight Capital Re Price Performance

Shares of NASDAQ:GLRE opened at $13.50 on Friday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $14.23 and a 200 day moving average price of $13.86. Greenlight Capital Re has a 52 week low of $11.08 and a 52 week high of $15.82. The company has a market cap of $470.21 million, a P/E ratio of 5.36 and a beta of 0.89.

Greenlight Capital Re (NASDAQ:GLRE) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $1.01 EPS for the quarter, beating the consensus estimate 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 business had revenue of $188.01 million during the quarter. During the same period in the prior year, the business earned $0.39 earnings per share.

Hedge Funds Weigh In On Greenlight Capital Re

A number of large investors have recently made changes to their positions in the stock. R Squared Ltd acquired a new position in Greenlight Capital Re during the fourth quarter worth $29,000. Bfsg LLC increased its position 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 valued at $89,000 after buying an additional 1,340 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Greenlight Capital Re during the 3rd quarter worth $133,000. Centiva Capital LP purchased a new stake in shares of Greenlight Capital Re in the 3rd quarter worth about $139,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Greenlight Capital Re in the 4th quarter valued at about $144,000. 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.