Greenlight Capital Re (NASDAQ:GLRE) Shares Gap Down - Should You Sell?

Key Points

• Greenlight Capital Re (GLRE) shares gapped down premarket from $17.06 to $16.17 but were last trading near $17.04 on about 59,020 shares changing hands.
• Several analysts upgraded the stock recently (Weiss to buy, Wall Street Zen to strong-buy), leaving a MarketBeat consensus rating of Buy.
• The company reported an EPS beat ($1.44 vs. $1.12 expected), and shows solid fundamentals with a quick/current ratio of 2.84, a P/E of ~7.7 and a market cap of about $573 million.

Greenlight Capital Re, Ltd. (NASDAQ:GLRE - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.06, but opened at $16.17. Greenlight Capital Re shares last traded at $17.0390, with a volume of 59,020 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GLRE shares. Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a report on Tuesday, March 17th. Wall Street Zen upgraded Greenlight Capital Re from a "hold" rating to a "strong-buy" rating in a research report on Saturday, March 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Greenlight Capital Re Stock Down 1.2%

The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $572.87 million, a P/E ratio of 7.73 and a beta of 0.54. The company has a fifty day moving average price of $14.44 and a 200-day moving average price of $13.62.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last announced its quarterly earnings results on Monday, March 9th. The financial services provider reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.32. The company had revenue of $210.30 million during 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

Several large investors have recently bought and sold shares of GLRE. Quadrant Capital Group LLC lifted its position in Greenlight Capital Re by 7,213.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,218 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 3,174 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Greenlight Capital Re by 90.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock valued at $49,000 after purchasing an additional 1,627 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Greenlight Capital Re by 184.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,238 shares of the financial services provider's stock worth $54,000 after purchasing an additional 2,749 shares during the period. Financial Consulate Inc. bought a new position in shares of Greenlight Capital Re during the 3rd quarter valued at approximately $124,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Greenlight Capital Re by 12.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider's stock valued at $145,000 after buying an additional 1,296 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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