Greenlight Capital Re (NASDAQ:GLRE) Downgraded to Hold Rating by Wall Street Zen

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Greenlight Capital Re Stock Up 1.3%

GLRE stock opened at $14.33 on Friday. Greenlight Capital Re has a twelve month low of $11.95 and a twelve month high of $15.82. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $495.24 million, a P/E ratio of 11.11 and a beta of 0.66. The firm has a 50 day simple moving average of $14.01 and a 200-day simple moving average of $13.71.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.36. The business had revenue of $247.95 million during the quarter. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%.

Insider Buying and Selling at Greenlight Capital Re

In other news, Director Ian Isaacs sold 13,000 shares of Greenlight Capital Re stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $14.92, for a total value of $193,960.00. Following the completion of the transaction, the director owned 71,484 shares in the company, valued at approximately $1,066,541.28. This trade represents a 15.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Patrick O'brien sold 7,500 shares of Greenlight Capital Re stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $13.48, for a total value of $101,100.00. Following the completion of the transaction, the chief operating officer owned 182,925 shares of the company's stock, valued at approximately $2,465,829. The trade was a 3.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,500 shares of company stock valued at $361,160. 23.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Aquatic Capital Management LLC boosted its holdings in Greenlight Capital Re by 374.4% in the fourth quarter. Aquatic Capital Management LLC now owns 3,795 shares of the financial services provider's stock worth $53,000 after purchasing an additional 2,995 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Greenlight Capital Re by 5,284.0% in the 1st quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock valued at $55,000 after buying an additional 3,963 shares during the period. Bfsg LLC boosted its holdings in shares of Greenlight Capital Re by 11.5% in the 1st quarter. Bfsg LLC now owns 8,260 shares of the financial services provider's stock valued at $112,000 after buying an additional 855 shares during the period. Bailard Inc. acquired a new position in shares of Greenlight Capital Re in the 1st quarter valued at about $138,000. Finally, Virtu Financial LLC acquired a new position in shares of Greenlight Capital Re in the 1st quarter valued at about $156,000. 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.

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