Greenlight Capital Re (NASDAQ:GLRE) Rating Lowered to Hold at Wall Street Zen

Wall Street Zen lowered shares of Greenlight Capital Re (NASDAQ:GLRE - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

Greenlight Capital Re Price Performance

NASDAQ:GLRE traded down $0.17 during mid-day trading on Friday, hitting $13.74. 201,849 shares of the stock traded hands, compared to its average volume of 100,614. Greenlight Capital Re has a 12-month low of $11.95 and a 12-month high of $15.82. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.09. The company has a market cap of $474.85 million, a PE ratio of 10.65 and a beta of 0.66. The business's 50-day moving average price is $14.03 and its 200 day moving average price is $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 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.36. Greenlight Capital Re had a net margin of 6.33% and a return on equity of 6.99%. The firm had revenue of $247.95 million during the quarter.

Insider Transactions at Greenlight Capital Re

In other news, COO Patrick O'brien sold 7,500 shares of Greenlight Capital Re stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $13.48, for a total transaction of $101,100.00. Following the completion of the sale, the chief operating officer owned 182,925 shares in the company, valued at approximately $2,465,829. This trade represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ian Isaacs sold 13,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $14.92, for a total transaction of $193,960.00. Following the completion of the sale, the director directly owned 71,484 shares in the company, valued at $1,066,541.28. This represents a 15.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,500 shares of company stock worth $361,160 over the last 90 days. Corporate insiders own 23.55% of the company's stock.

Institutional Trading of Greenlight Capital Re

Hedge funds have recently made changes to their positions in the stock. Aquatic Capital Management LLC increased its stake 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 valued at $53,000 after acquiring an additional 2,995 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Greenlight Capital Re by 5,284.0% during the 1st quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 3,963 shares during the last quarter. Bfsg LLC raised its holdings in shares of Greenlight Capital Re by 11.5% during 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 in the last quarter. Bailard Inc. purchased a new position in shares of Greenlight Capital Re during the 1st quarter valued at about $138,000. Finally, Virtu Financial LLC bought a new stake in Greenlight Capital Re in the 1st quarter worth approximately $156,000. 41.52% of the stock is owned by institutional investors.

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.