Greenlight Capital Re (NASDAQ:GLRE) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Other equities analysts have also recently issued reports about the company. UBS reissued a “buy” rating and issued a $25.00 price target (down from $27.00) on shares of Greenlight Capital Re in a report on Friday, February 23rd. TheStreet cut Greenlight Capital Re from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. ValuEngine cut Greenlight Capital Re from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Finally, Zacks Investment Research cut Greenlight Capital Re from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $24.50.
NASDAQ GLRE opened at $15.75 on Friday. Greenlight Capital Re has a fifty-two week low of $15.00 and a fifty-two week high of $23.15. The firm has a market capitalization of $588.36, a PE ratio of -13.02 and a beta of 0.88.
Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Tuesday, February 20th. The financial services provider reported ($1.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.47). Greenlight Capital Re had a negative return on equity of 5.14% and a negative net margin of 6.96%. The company had revenue of $124.54 million during the quarter, compared to analyst estimates of $157.50 million. equities research analysts anticipate that Greenlight Capital Re will post -2.61 EPS for the current year.
In other Greenlight Capital Re news, insider Daniel Roitman acquired 35,000 shares of the stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average price of $16.49 per share, with a total value of $577,150.00. Following the completion of the transaction, the insider now directly owns 270,117 shares in the company, valued at $4,454,229.33. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Laura Accurso sold 12,000 shares of Greenlight Capital Re stock in a transaction on Monday, March 5th. The shares were sold at an average price of $16.51, for a total value of $198,120.00. Following the completion of the sale, the general counsel now directly owns 11,848 shares of the company’s stock, valued at approximately $195,610.48. The disclosure for this sale can be found here. Insiders own 21.38% of the company’s stock.
Large investors have recently made changes to their positions in the company. Crestline Management LP purchased a new stake in shares of Greenlight Capital Re in the fourth quarter valued at $202,000. Teacher Retirement System of Texas purchased a new stake in shares of Greenlight Capital Re in the fourth quarter valued at $207,000. Guggenheim Capital LLC purchased a new stake in shares of Greenlight Capital Re in the fourth quarter valued at $232,000. Jefferies Group LLC purchased a new stake in shares of Greenlight Capital Re in the fourth quarter valued at $239,000. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Greenlight Capital Re in the fourth quarter valued at $277,000. 49.50% of the stock is owned by institutional investors and hedge funds.
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About Greenlight Capital Re
Greenlight Capital Re, Ltd., through its subsidiaries, engages in the provision of property and casualty reinsurance products and services worldwide. Its frequency business comprises contracts containing small losses emanating from multiple events and enables the clients to increase their underwriting capacity; and severity business includes contracts with the potential for significant losses emanating from one event or various events.
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