Greenlight Capital Re (NASDAQ:GLRE) Upgraded at ValuEngine

ValuEngine upgraded shares of Greenlight Capital Re (NASDAQ:GLRE) from a buy rating to a strong-buy rating in a report issued on Thursday, ValuEngine reports.

Separately, BidaskClub upgraded shares of Greenlight Capital Re from a strong sell rating to a sell rating in a report on Saturday, February 22nd.

GLRE traded up $0.32 during trading on Thursday, hitting $6.17. 349,672 shares of the stock traded hands, compared to its average volume of 301,853. The firm has a market capitalization of $216.41 million, a P/E ratio of -56.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.32 and a quick ratio of 3.32. The firm has a 50-day moving average of $7.66 and a 200 day moving average of $9.56. Greenlight Capital Re has a 12-month low of $5.00 and a 12-month high of $12.60.

Greenlight Capital Re (NASDAQ:GLRE) last announced its quarterly earnings results on Monday, March 9th. The financial services provider reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.68). The firm had revenue of $106.58 million for the quarter. Greenlight Capital Re had a negative net margin of 0.74% and a negative return on equity of 0.81%.

A number of hedge funds and other institutional investors have recently modified their holdings of GLRE. California Public Employees Retirement System raised its holdings in Greenlight Capital Re by 18.7% in the 3rd quarter. California Public Employees Retirement System now owns 37,840 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 5,957 shares in the last quarter. California State Teachers Retirement System raised its holdings in Greenlight Capital Re by 2.5% in the 3rd quarter. California State Teachers Retirement System now owns 45,448 shares of the financial services provider’s stock worth $477,000 after purchasing an additional 1,111 shares in the last quarter. Millennium Management LLC raised its holdings in Greenlight Capital Re by 238.8% in the 3rd quarter. Millennium Management LLC now owns 95,769 shares of the financial services provider’s stock worth $1,005,000 after purchasing an additional 164,769 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Greenlight Capital Re in the 4th quarter worth $26,000. Finally, Russell Investments Group Ltd. bought a new position in Greenlight Capital Re in the 4th quarter worth $106,000. Institutional investors and hedge funds own 50.06% of the company’s stock.

About Greenlight Capital Re

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurer worldwide. The company offers various property reinsurance products and services, including automobile physical damage; personal lines, such as homeowners' insurance; and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, mortgage insurance, surety, trade credit, marine, aviation, energy, cyber, and terrorism products.

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