Greenlight Capital Re (NASDAQ:GLRE) Raised to “Strong-Buy” at Wall Street Zen

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

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

Greenlight Capital Re Price Performance

Shares of GLRE opened at $15.60 on Friday. The business has a 50-day moving average of $14.02 and a 200-day moving average of $13.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.84 and a quick ratio of 2.84. The company has a market capitalization of $531.96 million, a price-to-earnings ratio of 7.16 and a beta of 0.54. Greenlight Capital Re has a 1 year low of $11.56 and a 1 year high of $15.92.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Monday, March 9th. The financial services provider reported $1.44 EPS for the quarter, beating the consensus estimate of $1.12 by $0.32. The business had revenue of $210.30 million for 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 hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Greenlight Capital Re by 61.1% during the first quarter. AQR Capital Management LLC now owns 44,893 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 17,029 shares during the period. Empowered Funds LLC grew its position in Greenlight Capital Re by 8.3% in the 1st quarter. Empowered Funds LLC now owns 117,805 shares of the financial services provider’s stock valued at $1,596,000 after purchasing an additional 9,066 shares during the period. Jane Street Group LLC bought a new stake in Greenlight Capital Re during the 1st quarter valued at $335,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Greenlight Capital Re by 34.9% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 73,155 shares of the financial services provider’s stock valued at $1,051,000 after purchasing an additional 18,910 shares in the last quarter. Finally, Creative Planning acquired a new position in Greenlight Capital Re during the second quarter worth $887,000. 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.