Greenlight Reinsurance, Ltd. (NASDAQ:GLRE) – Investment analysts at Langen Mcalenn cut their FY2017 earnings per share (EPS) estimates for Greenlight Reinsurance in a report issued on Thursday. Langen Mcalenn analyst R. Glasspiegel now forecasts that the financial services provider will post earnings per share of $0.05 for the year, down from their prior forecast of $0.50. Langen Mcalenn also issued estimates for Greenlight Reinsurance’s Q4 2017 earnings at $0.24 EPS, Q1 2018 earnings at $0.73 EPS, Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.63 EPS and FY2018 earnings at $2.65 EPS.

Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Greenlight Reinsurance from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research cut shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Finally, ValuEngine cut shares of Greenlight Reinsurance from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.

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Greenlight Reinsurance (NASDAQ GLRE) opened at $22.10 on Monday. The company has a market cap of $817.90, a P/E ratio of 19.91 and a beta of 0.79. Greenlight Reinsurance has a 12 month low of $19.65 and a 12 month high of $24.10.

Greenlight Reinsurance (NASDAQ:GLRE) last issued its quarterly earnings data on Monday, October 30th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.26). The firm had revenue of $236.15 million for the quarter, compared to analysts’ expectations of $200.80 million. Greenlight Reinsurance had a net margin of 5.91% and a return on equity of 4.74%.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Greenlight Reinsurance by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,513,766 shares of the financial services provider’s stock worth $52,538,000 after buying an additional 73,367 shares in the last quarter. Fiduciary Management Inc. WI grew its stake in Greenlight Reinsurance by 0.6% in the 2nd quarter. Fiduciary Management Inc. WI now owns 2,065,537 shares of the financial services provider’s stock worth $43,170,000 after buying an additional 11,692 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Greenlight Reinsurance by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,937,805 shares of the financial services provider’s stock worth $40,500,000 after buying an additional 145,473 shares in the last quarter. Morgan Stanley grew its stake in Greenlight Reinsurance by 6.0% in the 1st quarter. Morgan Stanley now owns 899,461 shares of the financial services provider’s stock worth $19,879,000 after buying an additional 50,646 shares in the last quarter. Finally, State Street Corp grew its stake in Greenlight Reinsurance by 4.9% in the 2nd quarter. State Street Corp now owns 600,463 shares of the financial services provider’s stock worth $12,549,000 after buying an additional 28,255 shares in the last quarter. 45.49% of the stock is owned by institutional investors and hedge funds.

In related news, Director Leonard R. Goldberg sold 1,754 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $22.76, for a total transaction of $39,921.04. Following the completion of the transaction, the director now owns 170,021 shares of the company’s stock, valued at $3,869,677.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sherry Diaz sold 3,055 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $23.00, for a total transaction of $70,265.00. Following the transaction, the insider now directly owns 33,500 shares of the company’s stock, valued at approximately $770,500. The disclosure for this sale can be found here. 21.81% of the stock is currently owned by insiders.

Greenlight Reinsurance Company Profile

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.

Earnings History and Estimates for Greenlight Reinsurance (NASDAQ:GLRE)

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