Greenlight Reinsurance (NASDAQ: GLRE) has recently received a number of price target changes and ratings updates:
- 8/7/2017 – Greenlight Reinsurance was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
- 8/4/2017 – Greenlight Reinsurance was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $25.00 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. “
- 8/2/2017 – Greenlight Reinsurance was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 8/1/2017 – Greenlight Reinsurance was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
- 7/19/2017 – Greenlight Reinsurance was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 7/7/2017 – Greenlight Reinsurance was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
Greenlight Reinsurance, Ltd. (GLRE) traded up 1.10% during trading on Wednesday, hitting $23.00. 419,974 shares of the company’s stock traded hands. The company’s 50 day moving average price is $21.13 and its 200 day moving average price is $21.56. Greenlight Reinsurance, Ltd. has a 52-week low of $19.25 and a 52-week high of $24.10. The company has a market cap of $858.84 million, a PE ratio of 16.49 and a beta of 0.77.
Greenlight Reinsurance (NASDAQ:GLRE) last released its earnings results on Monday, July 31st. The financial services provider reported ($0.96) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.00) by $0.04. The company had revenue of $121.48 million for the quarter, compared to analysts’ expectations of $139.90 million. Greenlight Reinsurance had a return on equity of 5.96% and a net margin of 8.42%. Analysts expect that Greenlight Reinsurance, Ltd. will post $0.80 earnings per share for the current year.
In other news, Director Leonard R. Goldberg sold 1,659 shares of Greenlight Reinsurance stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $22.75, for a total transaction of $37,742.25. Following the sale, the director now directly owns 170,021 shares in the company, valued at approximately $3,867,977.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 3,257 shares of company stock worth $71,131 over the last quarter. Company insiders own 21.81% of the company’s stock.
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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