Greenlight Capital Re (NASDAQ:GLRE) Reaches New 1-Year High - Should You Buy?

Key Points

• Greenlight Capital Re reached a new 52-week high of $19.39 during Tuesday trading and last traded at $18.44 on a volume of 182,163 shares.
• Analysts have a consensus rating of Buy; Weiss Ratings upgraded to "buy (b+)" while Wall Street Zen trimmed its rating from "strong-buy" to "buy."
• The company reported a quarterly EPS of $1.44 vs. $1.12 expected with $210.3 million in revenue, and trades at a market cap of $626.6M with a P/E of 8.46 and strong liquidity ratios (current and quick ratios 2.84).

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $19.39 and last traded at $18.44, with a volume of 182163 shares traded. The stock had previously closed at $18.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GLRE shares. Weiss Ratings upgraded shares of Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a report on Tuesday, March 17th. Wall Street Zen lowered Greenlight Capital Re from a "strong-buy" rating to a "buy" rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Greenlight Capital Re Price Performance

The firm has a market cap of $626.59 million, a P/E ratio of 8.46 and a beta of 0.39. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $15.96 and a two-hundred day moving average of $14.28.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last issued its quarterly earnings data on Monday, March 9th. The financial services provider reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.32. The business had revenue of $210.30 million for the quarter. Greenlight Capital Re had a return on equity of 11.10% and a net margin of 10.25%.

Institutional Investors Weigh In On Greenlight Capital Re

A number of hedge funds and other institutional investors have recently bought and sold shares of GLRE. Private Management Group Inc. grew its position in Greenlight Capital Re by 25.6% during the 4th quarter. Private Management Group Inc. now owns 1,502,235 shares of the financial services provider's stock worth $21,903,000 after acquiring an additional 306,468 shares during the last quarter. Catawba River Capital acquired a new position in Greenlight Capital Re during the 3rd quarter worth about $2,542,000. Pinnacle Associates Ltd. acquired a new position in Greenlight Capital Re during the 4th quarter worth about $2,480,000. Pinnacle Wealth Management Advisory Group LLC acquired a new position in Greenlight Capital Re during the 4th quarter worth about $2,479,000. Finally, Millennium Management LLC lifted its holdings in Greenlight Capital Re by 546.5% during the 4th quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider's stock worth $2,906,000 after buying an additional 168,486 shares during the period. Institutional investors own 41.52% of the company's stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re Ltd. NASDAQ: GLRE is a Bermuda‐incorporated reinsurer externally managed by Greenlight Capital Re Services Ltd., a subsidiary of Greenlight Capital, Inc Since its formation in 2016 and subsequent initial public offering in 2017, the company has focused on providing customized reinsurance solutions to insurers worldwide. Greenlight Capital Re operates as an independent, publicly traded entity, leveraging the investment expertise and underwriting rigor that underpin its parent's investment platform.

The company's core business activities encompass both treaty and facultative reinsurance across a broad spectrum of property and casualty lines.

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