Greenlight Capital Re (NASDAQ:GLRE) Earns Buy (B-) Rating from Weiss Ratings

Key Points

• Greenlight Capital Re received a "buy (B-)" rating from Weiss Ratings, whereas Wall Street Zen downgraded the company from a "buy" to a "hold" rating.
• The company's stock recently traded at $12.77 with a market capitalization of $436.56 million and a price-to-earnings ratio of 11.94.
• In the latest earnings report, Greenlight reported $0.01 EPS, significantly beating analysts' expectations of ($0.35), and had revenues of $179.63 million.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report)'s stock had its "buy (b-)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Separately, Wall Street Zen downgraded Greenlight Capital Re from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy".

Greenlight Capital Re Price Performance

GLRE stock traded up $0.18 during midday trading on Tuesday, hitting $12.77. The company's stock had a trading volume of 39,456 shares, compared to its average volume of 115,083. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $436.56 million, a price-to-earnings ratio of 11.94 and a beta of 0.60. Greenlight Capital Re has a 12 month low of $12.14 and a 12 month high of $15.82. The company has a 50 day moving average of $12.80 and a two-hundred day moving average of $13.36.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its earnings results on Monday, August 4th. The financial services provider reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.35) by $0.36. The firm had revenue of $179.63 million during the quarter. Greenlight Capital Re had a return on equity of 5.75% and a net margin of 5.37%.

Insider Activity

In related news, insider Thomas James Curnock sold 11,500 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $12.93, for a total value of $148,695.00. Following the transaction, the insider owned 179,832 shares of the company's stock, valued at $2,325,227.76. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ian Isaacs sold 8,393 shares of the firm's stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $12.79, for a total transaction of $107,346.47. Following the completion of the transaction, the director directly owned 71,137 shares in the company, valued at $909,842.23. This represents a 10.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.55% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLRE. GAMMA Investing LLC raised its holdings in shares of Greenlight Capital Re by 5,284.0% in the first quarter. GAMMA Investing LLC now owns 4,038 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 3,963 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Greenlight Capital Re in the first quarter valued at about $463,000. CWA Asset Management Group LLC raised its holdings in shares of Greenlight Capital Re by 27.8% in the second quarter. CWA Asset Management Group LLC now owns 865,797 shares of the financial services provider's stock valued at $12,442,000 after acquiring an additional 188,231 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Greenlight Capital Re by 284.9% in the first quarter. Invesco Ltd. now owns 233,227 shares of the financial services provider's stock valued at $3,160,000 after acquiring an additional 172,639 shares in the last quarter. Finally, Private Management Group Inc. grew its stake in Greenlight Capital Re by 11.2% in the first quarter. Private Management Group Inc. now owns 1,034,365 shares of the financial services provider's stock valued at $14,016,000 after purchasing an additional 103,886 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.