Greenlight Capital Re (NASDAQ:GLRE) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Wednesday.
GLRE has been the topic of a number of other research reports. Zacks Investment Research lowered Greenlight Capital Re from a “buy” rating to a “strong sell” rating in a research report on Thursday, July 5th. ValuEngine upgraded Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. Greenlight Capital Re has a consensus rating of “Hold” and an average price target of $20.50.
Greenlight Capital Re stock opened at $11.85 on Wednesday. Greenlight Capital Re has a 12 month low of $11.75 and a 12 month high of $23.00. The company has a market capitalization of $457.95 million, a price-to-earnings ratio of -9.79 and a beta of 0.84.
Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Tuesday, July 31st. The financial services provider reported ($1.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.04. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%. The business had revenue of $88.08 million for the quarter, compared to analyst estimates of $103.40 million. sell-side analysts forecast that Greenlight Capital Re will post -4.45 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of GLRE. Wells Fargo & Company MN raised its stake in Greenlight Capital Re by 110.3% in the 1st quarter. Wells Fargo & Company MN now owns 291,485 shares of the financial services provider’s stock valued at $4,678,000 after purchasing an additional 152,863 shares during the last quarter. SG Americas Securities LLC acquired a new position in Greenlight Capital Re in the 1st quarter valued at $102,000. Quantitative Systematic Strategies LLC acquired a new position in Greenlight Capital Re in the 1st quarter valued at $369,000. Hourglass Capital LLC acquired a new stake in shares of Greenlight Capital Re in the 1st quarter worth $2,111,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Greenlight Capital Re by 12.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 145,066 shares of the financial services provider’s stock worth $2,329,000 after acquiring an additional 16,031 shares during the last quarter. 43.31% of the stock is owned by hedge funds and other institutional investors.
About Greenlight Capital Re
Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.
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