Greenlight Capital Re (NASDAQ:GLRE) Upgraded by ValuEngine to “Strong-Buy”

Greenlight Capital Re (NASDAQ:GLRE) was upgraded by equities research analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a note issued to investors on Friday, ValuEngine reports.

Separately, BidaskClub downgraded shares of Greenlight Capital Re from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 24th.

GLRE stock traded down $0.06 during trading on Friday, hitting $8.24. 152,200 shares of the company’s stock traded hands, compared to its average volume of 188,201. Greenlight Capital Re has a 52 week low of $8.14 and a 52 week high of $13.88. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $8.54.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Monday, May 6th. The financial services provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($0.64). The firm had revenue of $128.00 million during the quarter. Greenlight Capital Re had a negative net margin of 58.95% and a negative return on equity of 36.91%.

A number of hedge funds have recently bought and sold shares of GLRE. Freestone Capital Holdings LLC purchased a new position in Greenlight Capital Re in the 1st quarter worth about $2,644,000. Investec Asset Management LTD increased its position in Greenlight Capital Re by 12.0% during the 2nd quarter. Investec Asset Management LTD now owns 759,843 shares of the financial services provider’s stock valued at $6,451,000 after purchasing an additional 81,120 shares during the period. Clear Harbor Asset Management LLC purchased a new position in Greenlight Capital Re during the 2nd quarter valued at about $658,000. Moon Capital Management LLC increased its position in Greenlight Capital Re by 96.6% during the 2nd quarter. Moon Capital Management LLC now owns 138,007 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 67,802 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Greenlight Capital Re during the 4th quarter valued at about $182,000. 48.71% of the stock is currently owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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