Greenlight Reinsurance (GLRE) Downgraded by ValuEngine to Sell

ValuEngine downgraded shares of Greenlight Reinsurance (NASDAQ:GLRE) from a hold rating to a sell rating in a report released on Saturday morning.

Several other equities research analysts have also recently issued reports on GLRE. Zacks Investment Research cut Greenlight Reinsurance from a buy rating to a hold rating in a report on Tuesday, September 5th. TheStreet raised Greenlight Reinsurance from a c rating to a b- rating in a report on Wednesday, November 1st.

Shares of Greenlight Reinsurance (NASDAQ:GLRE) traded down $0.15 during trading on Friday, hitting $20.90. The stock had a trading volume of 75,580 shares, compared to its average volume of 94,102. Greenlight Reinsurance has a fifty-two week low of $19.70 and a fifty-two week high of $24.10. The stock has a market capitalization of $780.55, a P/E ratio of 19.00 and a beta of 0.77.

Greenlight Reinsurance (NASDAQ:GLRE) last announced its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.26). Greenlight Reinsurance had a net margin of 5.91% and a return on equity of 4.74%. The business had revenue of $236.15 million during the quarter, compared to analysts’ expectations of $200.80 million. research analysts anticipate that Greenlight Reinsurance will post -0.95 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. OxFORD Asset Management LLP bought a new stake in shares of Greenlight Reinsurance in the third quarter worth about $397,000. Dimensional Fund Advisors LP increased its holdings in shares of Greenlight Reinsurance by 4.9% in the third quarter. Dimensional Fund Advisors LP now owns 2,033,550 shares of the financial services provider’s stock worth $44,026,000 after purchasing an additional 95,745 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Greenlight Reinsurance by 5.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 123,263 shares of the financial services provider’s stock worth $2,669,000 after purchasing an additional 6,128 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Greenlight Reinsurance by 38.3% in the third quarter. Wells Fargo & Company MN now owns 132,027 shares of the financial services provider’s stock worth $2,858,000 after purchasing an additional 36,547 shares during the last quarter. Finally, Citadel Advisors LLC increased its holdings in shares of Greenlight Reinsurance by 42.7% in the third quarter. Citadel Advisors LLC now owns 53,239 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 15,940 shares during the last quarter. 46.96% of the stock is currently owned by hedge funds and other institutional investors.

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Greenlight Reinsurance Company Profile

Greenlight Capital Re, Ltd. is a holding company. The Company analyzes its underwriting operations using 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 significant losses emanating from one event or multiple events.

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