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

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Greenlight Capital Re in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Greenlight Capital Re Price Performance

NASDAQ GLRE opened at $15.60 on Friday. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $13.40. Greenlight Capital Re has a 52 week low of $11.56 and a 52 week high of $15.92. The company has a quick ratio of 2.89, a current ratio of 2.84 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $531.96 million, a P/E ratio of 7.16 and a beta of 0.54.

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

Institutional Investors Weigh In On Greenlight Capital Re

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its holdings in shares of Greenlight Capital Re by 11.0% in the fourth quarter. Empowered Funds LLC now owns 162,184 shares of the financial services provider’s stock worth $2,365,000 after buying an additional 16,062 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of Greenlight Capital Re during the fourth quarter worth $177,000. Millennium Management LLC grew its stake in Greenlight Capital Re by 546.5% during the fourth quarter. Millennium Management LLC now owns 199,314 shares of the financial services provider’s stock valued at $2,906,000 after acquiring an additional 168,486 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Greenlight Capital Re by 8.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 210,684 shares of the financial services provider’s stock valued at $3,072,000 after acquiring an additional 16,062 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in Greenlight Capital Re by 70.2% in the 4th quarter. Trexquant Investment LP now owns 104,212 shares of the financial services provider’s stock valued at $1,519,000 after acquiring an additional 42,972 shares during the last quarter. 41.52% of the stock is owned by hedge funds and other institutional investors.

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.