Greenlight Capital Re (NASDAQ:GLRE) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded GLRE from a "strong-buy" to a "buy," while Weiss Ratings upgraded the stock from "hold (c)" to "buy (b+)," leaving the consensus rating at "Buy."
• Greenlight Capital Re reported quarterly EPS of $1.44 versus a $1.12 consensus and revenue of $210.3 million, and trades at a PE of 8.19 with a market cap of about $606.5 million.
• Shares opened at $17.85—near the 1‑year high of $18.04—with 50‑day/200‑day SMAs of $14.99/$13.84, and institutional investors now own roughly 41.52% after several funds modestly increased positions.

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

Separately, Weiss Ratings raised Greenlight Capital Re from a "hold (c)" rating to a "buy (b+)" rating in a report on Tuesday, March 17th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy".

Greenlight Capital Re Price Performance

GLRE stock opened at $17.85 on Friday. The firm has a market cap of $606.54 million, a PE ratio of 8.19 and a beta of 0.39. Greenlight Capital Re has a 1 year low of $11.56 and a 1 year high of $18.04. The company has a fifty day simple moving average of $14.99 and a 200 day simple moving average of $13.84. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 0.01.

Greenlight Capital Re (NASDAQ:GLRE - Get Free Report) last posted its earnings results on Monday, March 9th. The financial services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.12 by $0.32. Greenlight Capital Re had a net margin of 10.25% and a return on equity of 11.10%. The firm had revenue of $210.30 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in Greenlight Capital Re by 12.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 11,445 shares of the financial services provider's stock valued at $145,000 after acquiring an additional 1,296 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Greenlight Capital Re by 4.9% in the second quarter. BNP Paribas Financial Markets now owns 30,659 shares of the financial services provider's stock worth $441,000 after purchasing an additional 1,429 shares during the period. Bank of America Corp DE lifted its position in shares of Greenlight Capital Re by 3.8% during the 2nd quarter. Bank of America Corp DE now owns 39,239 shares of the financial services provider's stock worth $564,000 after purchasing an additional 1,451 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Greenlight Capital Re by 90.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,431 shares of the financial services provider's stock worth $49,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in Greenlight Capital Re by 2.8% during the 4th quarter. Independent Advisor Alliance now owns 64,561 shares of the financial services provider's stock valued at $941,000 after purchasing an additional 1,751 shares during the period. Institutional investors own 41.52% of the company's stock.

About Greenlight Capital Re

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.