BlackRock Inc. increased its holdings in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) by 26.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,513,604 shares of the financial services provider’s stock after purchasing an additional 527,963 shares during the quarter. BlackRock Inc. owned 6.70% of Greenlight Capital Re worth $35,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC raised its holdings 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 during the period. JPMorgan Chase & Co. raised its holdings in 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 worth $191,000 after purchasing an additional 5,423 shares during the period. Legal & General Group Plc raised its holdings in 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 worth $255,000 after purchasing an additional 5,885 shares during the period. GSA Capital Partners LLP acquired a new position in Greenlight Capital Re in the 1st quarter worth about $282,000. Finally, Arlington Partners LLC acquired a new position in Greenlight Capital Re in the 2nd quarter worth about $299,000. 43.26% of the stock is owned by institutional investors.

A number of research firms recently weighed in on GLRE. BidaskClub raised Greenlight Capital Re from a “sell” rating to a “hold” rating in a report on Saturday, October 13th. ValuEngine cut Greenlight Capital Re from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Finally, Zacks Investment Research cut Greenlight Capital Re from a “buy” rating to a “strong sell” rating in a report on Thursday, July 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Greenlight Capital Re currently has an average rating of “Hold” and a consensus target price of $20.50.

Shares of Greenlight Capital Re stock opened at $11.76 on Friday. Greenlight Capital Re, Ltd. has a 12 month low of $11.25 and a 12 month high of $23.00. The company has a market cap of $465.46 million, a price-to-earnings ratio of -9.93 and a beta of 0.82.

Greenlight Capital Re (NASDAQ:GLRE) last announced its earnings results on Tuesday, July 31st. The financial services provider reported ($1.01) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.04. Greenlight Capital Re had a negative return on equity of 25.61% and a negative net margin of 44.10%. The business had revenue of $88.08 million during the quarter, compared to analysts’ expectations of $103.40 million. Equities research analysts expect that Greenlight Capital Re, Ltd. will post -6.44 EPS for the current fiscal year.

Greenlight Capital Re 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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Institutional Ownership by Quarter for Greenlight Capital Re (NASDAQ:GLRE)

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