Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was upgraded by equities researchers at TheStreet from a “c-” rating to a “b-” rating in a research note issued to investors on Thursday.
Separately, Zacks Investment Research upgraded Greenlight Capital Re from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, December 7th.
Shares of Greenlight Capital Re (NASDAQ:GLRE) traded down 0.339% on Thursday, hitting $22.025. The stock had a trading volume of 18,286 shares. The firm has a market cap of $822.99 million, a price-to-earnings ratio of 18.354 and a beta of 0.66. The stock has a 50 day moving average of $22.55 and a 200 day moving average of $22.01. Greenlight Capital Re has a 12-month low of $18.79 and a 12-month high of $24.10.
Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings data on Wednesday, February 22nd. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by $0.21. Greenlight Capital Re had a negative net margin of 10.02% and a negative return on equity of 5.61%. Equities analysts predict that Greenlight Capital Re will post $2.43 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC acquired a new position in Greenlight Capital Re during the third quarter worth approximately $188,000. Stevens Capital Management LP acquired a new position in Greenlight Capital Re during the third quarter worth approximately $282,000. Trexquant Investment LP acquired a new position in Greenlight Capital Re during the fourth quarter worth approximately $321,000. Usca Ria LLC boosted its position in Greenlight Capital Re by 3.2% in the third quarter. Usca Ria LLC now owns 22,400 shares of the company’s stock worth $458,000 after buying an additional 700 shares in the last quarter. Finally, Harbor Advisors LLC acquired a new position in Greenlight Capital Re during the fourth quarter worth approximately $570,000. Hedge funds and other institutional investors own 43.47% of the company’s stock.
Greenlight Capital Re Company Profile
Greenlight Capital Re, Ltd. is a property and casualty reinsurance holding company. The Company operates through property and casualty reinsurance segment. Its underwriting operations are classified into two categories: frequency business, which is characterized as contracts containing a number of small losses emanating from multiple events, and severity business, which is characterized as contracts with the potential for losses emanating from one event or multiple events.
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