Sat Oct 05 15:26:00 UTC 2024: ## Greenlight Capital Re Stock Upgraded to “Buy” by StockNews.com
**New York, NY** – Greenlight Capital Re (NASDAQ: GLRE), a global property and casualty reinsurance company, saw its stock price rise on Friday following an upgrade from StockNews.com. The financial news website raised its rating on GLRE from “hold” to “buy” in a report released earlier that morning.
GLRE shares climbed $0.45 during trading, reaching $13.90. The stock’s trading volume was 74,448 shares, compared to its average volume of 84,607.
The upgrade comes on the heels of Greenlight Capital Re’s recent earnings report, released on August 6th. While the company missed analysts’ consensus estimates of $0.25 EPS for the quarter, reporting $0.23, revenue reached $174.86 million.
The company’s financial health appears solid, with a current ratio of 3.00, a quick ratio of 3.00, and a debt-to-equity ratio of 0.10. GLRE has a market capitalization of $490.96 million, a P/E ratio of 4.65, and a beta of 0.85.
In addition to the stock price increase, Greenlight Capital Re has also attracted the attention of institutional investors. Ridgewood Investments LLC, CWM LLC, SG Americas Securities LLC, Vanguard Personalized Indexing Management LLC, and Quadrature Capital Ltd all acquired or increased their holdings in the company during recent quarters.
While Greenlight Capital Re has faced some challenges in recent months, including missing earnings estimates, the company remains a strong player in the reinsurance market. The upgrade from StockNews.com and the increased interest from institutional investors may signal a potential upswing for GLRE in the coming months.
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