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 cover the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Analysts have set a 1-year consensus target price of $25.00 for the company and are predicting that the company will post $0.25 EPS for the current quarter, according to Zacks. Zacks has also given Greenlight Capital Re an industry rank of 179 out of 265 based on the ratings given to its competitors.
Several research firms recently issued reports on GLRE. BidaskClub lowered shares of Greenlight Capital Re from a “hold” rating to a “sell” rating in a report on Saturday. ValuEngine upgraded shares of Greenlight Capital Re from a “strong sell” rating to a “sell” rating in a report on Thursday, May 3rd. TheStreet lowered shares of Greenlight Capital Re from a “b-” rating to a “c+” rating in a report on Wednesday, February 14th. Finally, UBS reiterated a “buy” rating and set a $25.00 price objective (down previously from $27.00) on shares of Greenlight Capital Re in a report on Friday, February 23rd.
In related news, General Counsel Laura Accurso sold 12,000 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $16.51, for a total value of $198,120.00. Following the sale, the general counsel now owns 11,848 shares in the company, valued at approximately $195,610.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Roitman bought 35,000 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was acquired at an average price of $16.49 per share, for a total transaction of $577,150.00. Following the acquisition, the insider now directly owns 270,117 shares in the company, valued at $4,454,229.33. The disclosure for this purchase can be found here. 21.38% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in Greenlight Capital Re by 125.4% in the 1st quarter. Barclays PLC now owns 10,842 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 6,032 shares in the last quarter. Continental Advisors LLC bought a new stake in Greenlight Capital Re in the 1st quarter worth about $5,657,000. River & Mercantile Asset Management LLP bought a new stake in Greenlight Capital Re in the 1st quarter worth about $4,974,000. GSA Capital Partners LLP bought a new stake in Greenlight Capital Re in the 1st quarter worth about $282,000. Finally, Russell Investments Group Ltd. grew its position in Greenlight Capital Re by 138.1% in the 1st quarter. Russell Investments Group Ltd. now owns 95,728 shares of the financial services provider’s stock worth $1,537,000 after purchasing an additional 55,527 shares in the last quarter. 50.51% of the stock is owned by institutional investors and hedge funds.
Shares of Greenlight Capital Re traded down $0.43, reaching $15.15, during midday trading on Thursday, according to Marketbeat. 416,700 shares of the company were exchanged, compared to its average volume of 263,214. Greenlight Capital Re has a one year low of $15.25 and a one year high of $15.50.
Greenlight Capital Re (NASDAQ:GLRE) last released its earnings results on Tuesday, February 20th. The financial services provider reported ($1.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.47). The firm had revenue of $124.54 million during the quarter, compared to analyst estimates of $157.50 million. Greenlight Capital Re had a negative net margin of 40.65% and a negative return on equity of 23.81%. sell-side analysts predict that Greenlight Capital Re will post -2.85 earnings per share for the current year.
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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