Greenlight Capital Re (NASDAQ:GLRE) Downgraded by StockNews.com to “Hold”

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

Greenlight Capital Re Stock Performance

NASDAQ GLRE opened at $13.62 on Thursday. The business has a 50 day moving average price of $14.30 and a 200 day moving average price of $13.83. The company has a market capitalization of $474.38 million, a P/E ratio of 5.40 and a beta of 0.89. Greenlight Capital Re has a 1-year low of $11.08 and a 1-year high of $15.82. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 3.02.

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

Hedge Funds Weigh In On Greenlight Capital Re

A number of institutional investors have recently made changes to their positions in GLRE. American Century Companies Inc. grew its stake in Greenlight Capital Re by 36.3% in the 2nd quarter. American Century Companies Inc. now owns 346,777 shares of the financial services provider’s stock worth $4,543,000 after acquiring an additional 92,364 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Greenlight Capital Re by 2.4% in 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 purchasing an additional 48,317 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new position in Greenlight Capital Re in the second quarter valued at $138,000. Bank of Montreal Can purchased a new position in Greenlight Capital Re during the second quarter worth about $894,000. Finally, AQR Capital Management LLC boosted its stake in 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 worth $333,000 after buying an additional 8,246 shares during the last quarter. 41.52% of the stock is 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.