BidaskClub Downgrades Greenlight Capital Re (GLRE) to Sell

Greenlight Capital Re (NASDAQ:GLRE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other brokerages have also weighed in on GLRE. Zacks Investment Research upgraded shares of Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Friday, November 3rd. ValuEngine lowered shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Finally, TheStreet upgraded shares of Greenlight Capital Re from a “c” rating to a “b-” rating in a report on Wednesday, November 1st.

Shares of Greenlight Capital Re (NASDAQ GLRE) traded down $0.15 on Thursday, hitting $20.55. The stock had a trading volume of 124,869 shares, compared to its average volume of 138,467. Greenlight Capital Re has a 12-month low of $19.70 and a 12-month high of $23.75. The company has a market cap of $767.48, a PE ratio of 18.68 and a beta of 0.77.

Greenlight Capital Re (NASDAQ:GLRE) last issued its quarterly earnings results on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.26). Greenlight Capital Re had a return on equity of 4.74% and a net margin of 5.91%. The company had revenue of $236.15 million during the quarter, compared to the consensus estimate of $200.80 million. research analysts forecast that Greenlight Capital Re will post -0.75 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Greenlight Capital Re in the 2nd quarter worth approximately $113,000. Stevens Capital Management LP purchased a new position in Greenlight Capital Re in the 3rd quarter worth approximately $270,000. Advisory Services Network LLC raised its holdings in Greenlight Capital Re by 22.1% in the 2nd quarter. Advisory Services Network LLC now owns 13,113 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 2,370 shares during the last quarter. Voya Investment Management LLC raised its holdings in Greenlight Capital Re by 12.9% in the 2nd quarter. Voya Investment Management LLC now owns 15,340 shares of the financial services provider’s stock worth $321,000 after acquiring an additional 1,752 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Greenlight Capital Re by 86.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,181 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 7,959 shares during the last quarter. Institutional investors own 46.96% of the company’s stock.

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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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