Shares of Greenlight Capital Re, Ltd. (NASDAQ:GLRE) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokers have set a twelve-month consensus price target of $25.00 for the company and are expecting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also given Greenlight Capital Re an industry rank of 94 out of 255 based on the ratings given to its competitors.

Several equities analysts recently commented on GLRE shares. Zacks Investment Research upgraded Greenlight Capital Re from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, July 4th. BidaskClub raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, ValuEngine raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Monday, July 2nd.

Shares of Greenlight Capital Re stock traded down $0.20 during midday trading on Friday, hitting $11.60. 9,403 shares of the company were exchanged, compared to its average volume of 300,285. The company has a market capitalization of $454.20 million, a PE ratio of -9.59 and a beta of 0.85. Greenlight Capital Re has a 52 week low of $11.75 and a 52 week high of $23.00.

Greenlight Capital Re (NASDAQ:GLRE) last posted its earnings results on Tuesday, July 31st. The financial services provider reported ($1.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.04. The business had revenue of $88.08 million during the quarter, compared to the consensus estimate of $103.40 million. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%. sell-side analysts anticipate that Greenlight Capital Re will post -4.45 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of Greenlight Capital Re in the 1st quarter valued at $102,000. Barclays PLC increased its stake in shares of Greenlight Capital Re by 125.4% in the 1st quarter. Barclays PLC now owns 10,842 shares of the financial services provider’s stock valued at $173,000 after buying an additional 6,032 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Greenlight Capital Re by 83.5% in the 1st quarter. JPMorgan Chase & Co. now owns 11,921 shares of the financial services provider’s stock valued at $191,000 after buying an additional 5,423 shares during the period. Legal & General Group Plc increased its stake in shares of Greenlight Capital Re by 58.7% in the 1st quarter. Legal & General Group Plc now owns 15,918 shares of the financial services provider’s stock valued at $255,000 after buying an additional 5,885 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Greenlight Capital Re in the 1st quarter valued at $282,000. 43.31% of the stock is owned by hedge funds and other institutional investors.

Greenlight Capital Re Company Profile

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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