Zacks Investment Research lowered shares of Greenlight Capital Re Ltd. (NASDAQ:GLRE) from a hold rating to a strong sell rating in a report published on Monday morning.

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. “

A number of other brokerages have also recently issued reports on GLRE. Langen Mcalenn reaffirmed a buy rating on shares of Greenlight Capital Re in a report on Wednesday, June 1st. Janney Montgomery Scott started coverage on shares of Greenlight Capital Re in a report on Wednesday, June 1st. They issued a buy rating on the stock.

Greenlight Capital Re (NASDAQ:GLRE) opened at 20.66 on Monday. The company’s market cap is $771.03 million. Greenlight Capital Re has a 52 week low of $16.05 and a 52 week high of $25.20. The firm’s 50-day moving average is $20.79 and its 200-day moving average is $20.67.

Greenlight Capital Re (NASDAQ:GLRE) last issued its earnings results on Monday, August 1st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.09) by $0.60. On average, analysts expect that Greenlight Capital Re will post $1.16 EPS for the current fiscal year.

In related news, Director Ian Isaacs sold 12,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $21.45, for a total value of $257,400.00. Following the transaction, the director now owns 42,830 shares in the company, valued at approximately $918,703.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Leonard R. Goldberg sold 5,296 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $20.13, for a total transaction of $106,608.48. Following the completion of the transaction, the director now owns 168,361 shares in the company, valued at approximately $3,389,106.93. The disclosure for this sale can be found here. 22.08% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Greenlight Capital Re by 140.0% in the second quarter. BlackRock Inc. now owns 7,223 shares of the company’s stock worth $145,000 after buying an additional 4,214 shares during the period. AXA bought a new position in shares of Greenlight Capital Re during the second quarter worth approximately $256,000. Menta Capital LLC bought a new position in shares of Greenlight Capital Re during the second quarter worth approximately $266,000. BlackRock Advisors LLC raised its position in shares of Greenlight Capital Re by 6.8% in the second quarter. BlackRock Advisors LLC now owns 15,245 shares of the company’s stock worth $307,000 after buying an additional 976 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of Greenlight Capital Re during the second quarter worth approximately $437,000. Institutional investors and hedge funds own 42.83% of the company’s stock.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd. is a property and casualty reinsurance holding company. The Company operates through property and casualty reinsurance segment. Its underwriting operations are classified into 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 losses emanating from one event or multiple events.

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