Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) have earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokerages have set a 12-month consensus target price of $25.00 for the company and are expecting that the company will post ($4.32) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Greenlight Capital Re an industry rank of 235 out of 265 based on the ratings given to its competitors.
Several brokerages have recently commented on GLRE. BidaskClub raised shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a research report on Friday, January 5th. Zacks Investment Research cut shares of Greenlight Capital Re from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 3rd. TheStreet cut shares of Greenlight Capital Re from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. UBS reaffirmed a “buy” rating and set a $25.00 price target (down previously from $27.00) on shares of Greenlight Capital Re in a research report on Friday, February 23rd. Finally, ValuEngine cut shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th.
In other Greenlight Capital Re news, insider Daniel Roitman bought 35,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were purchased at an average price of $16.49 per share, with a total value of $577,150.00. Following the completion of the acquisition, the insider now directly owns 270,117 shares of the company’s stock, valued at approximately $4,454,229.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sherry Diaz sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 22nd. The stock was sold at an average price of $21.65, for a total transaction of $32,475.00. Following the completion of the transaction, the insider now directly owns 32,000 shares in the company, valued at approximately $692,800. The disclosure for this sale can be found here. Company insiders own 21.38% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Arlington Partners LLC bought a new position in Greenlight Capital Re in the fourth quarter worth about $339,000. Martingale Asset Management L P lifted its holdings in Greenlight Capital Re by 145.5% in the fourth quarter. Martingale Asset Management L P now owns 178,754 shares of the financial services provider’s stock worth $3,593,000 after acquiring an additional 105,946 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Greenlight Capital Re 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 acquiring an additional 6,128 shares during the last quarter. AXA lifted its holdings in Greenlight Capital Re by 222.5% in the fourth quarter. AXA now owns 142,396 shares of the financial services provider’s stock worth $2,862,000 after acquiring an additional 98,245 shares during the last quarter. Finally, Citadel Advisors LLC lifted its holdings in Greenlight Capital Re by 6.5% in the fourth quarter. Citadel Advisors LLC now owns 56,691 shares of the financial services provider’s stock worth $1,140,000 after acquiring an additional 3,452 shares during the last quarter. 49.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GLRE stock remained flat at $$15.55 during trading hours on Friday. 161,482 shares of the stock traded hands, compared to its average volume of 342,958. Greenlight Capital Re has a twelve month low of $15.00 and a twelve month high of $23.15. The company has a market capitalization of $580.89, a PE ratio of -12.85 and a beta of 0.88.
Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Tuesday, February 20th. The financial services provider reported ($1.02) EPS for the quarter, missing the 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 for the quarter, compared to the consensus estimate of $157.50 million. analysts forecast that Greenlight Capital Re will post -2.61 earnings per share for the current year.
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About Greenlight Capital Re
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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