Greenlight Capital Re (GLRE) – Research Analysts’ Recent Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Greenlight Capital Re (NASDAQ: GLRE) in the last few weeks:

7/5/2018 – Greenlight Capital Re was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “strong sell” rating. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 7/4/2018 – Greenlight Capital Re was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 7/2/2018 – Greenlight Capital Re was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating. 6/30/2018 – Greenlight Capital Re was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating. 6/6/2018 – Greenlight Capital Re was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “GREENLIGHT CAPITAL REINSURANCE LTD. is an AM Best A- (Excellent) rated specialty property and casualty reinsurance company based in the Cayman Islands. The Company provides a variety of custom-tailored reinsurance solutions to the insurance, risk retention group, captive and financial marketplaces. Greenlight Re selectively offers customized reinsurance solutions in markets where capacity and alternatives are limited. With a focus on deriving superior returns from both sides of the balance sheet, Greenlight Re’s assets are managed according to a value-oriented equity-focused strategy that complements the Company’s business goal of long-term growth in book value per share. “ 6/5/2018 – Greenlight Capital Re was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating. 5/29/2018 – Greenlight Capital Re was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating. 5/12/2018 – Greenlight Capital Re was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

NASDAQ GLRE traded up $0.10 during trading hours on Friday, hitting $13.80. 223,200 shares of the company traded hands, compared to its average volume of 274,584. Greenlight Capital Re, Ltd. has a twelve month low of $13.55 and a twelve month high of $23.15. The stock has a market capitalization of $514.26 million, a PE ratio of -11.40 and a beta of 0.88.

Get Greenlight Capital Re Ltd alerts:

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, April 30th. The financial services provider reported ($3.85) EPS for the quarter, beating the consensus estimate of ($4.43) by $0.58. Greenlight Capital Re had a negative return on equity of 23.81% and a negative net margin of 40.65%. The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $30.20 million. sell-side analysts forecast that Greenlight Capital Re, Ltd. will post -4.2 earnings per share for the current fiscal year.

In other news, insider Barry Brendan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $15.51, for a total value of $310,200.00. Following the completion of the sale, the insider now directly owns 118,546 shares of the company’s stock, valued at $1,838,648.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leonard R. Goldberg acquired 12,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was acquired at an average cost of $15.25 per share, with a total value of $183,000.00. Following the completion of the transaction, the director now owns 166,641 shares of the company’s stock, valued at $2,541,275.25. The disclosure for this purchase can be found here. Corporate insiders own 21.38% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in shares of Greenlight Capital Re by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 129,035 shares of the financial services provider’s stock worth $2,594,000 after purchasing an additional 5,772 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Greenlight Capital Re during the fourth quarter worth approximately $207,000. First Trust Advisors LP increased its stake in shares of Greenlight Capital Re by 14.0% during the fourth quarter. First Trust Advisors LP now owns 26,379 shares of the financial services provider’s stock worth $530,000 after purchasing an additional 3,232 shares during the period. Wells Fargo & Company MN increased its stake in shares of Greenlight Capital Re by 5.0% during the fourth quarter. Wells Fargo & Company MN now owns 138,622 shares of the financial services provider’s stock worth $2,786,000 after purchasing an additional 6,595 shares during the period. Finally, BlackRock Inc. increased its stake in shares of Greenlight Capital Re by 2.0% during the fourth quarter. BlackRock Inc. now owns 1,964,730 shares of the financial services provider’s stock worth $39,490,000 after purchasing an additional 38,317 shares during the period. 43.22% of the stock is owned by institutional investors.

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.