Global Indemnity Ltd (NASDAQ:GBLI) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totalling 29,600 shares, a growth of 109.9% from the February 27th total of 14,100 shares. Based on an average daily trading volume, of 18,200 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.4% of the shares of the company are sold short.
A number of analysts have issued reports on the company. TheStreet raised Global Indemnity from a “c” rating to a “b” rating in a report on Friday, February 21st. ValuEngine lowered Global Indemnity from a “buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, BidaskClub lowered Global Indemnity from a “strong-buy” rating to a “buy” rating in a report on Friday, March 13th.
In other Global Indemnity news, insider Stephen Green bought 2,000 shares of the stock in a transaction on Monday, March 16th. The shares were purchased at an average price of $25.00 per share, with a total value of $50,000.00. Following the acquisition, the insider now directly owns 31,021 shares of the company’s stock, valued at approximately $775,525. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 7,225 shares of company stock worth $201,975 in the last ninety days. Insiders own 42.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Global Indemnity by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 92,321 shares of the insurance provider’s stock worth $2,735,000 after purchasing an additional 1,302 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Global Indemnity during the 4th quarter worth approximately $190,000. Bank of New York Mellon Corp grew its holdings in shares of Global Indemnity by 1.8% during the 4th quarter. Bank of New York Mellon Corp now owns 30,949 shares of the insurance provider’s stock worth $917,000 after purchasing an additional 540 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Global Indemnity during the 4th quarter worth approximately $646,000. Finally, UBS Group AG grew its holdings in shares of Global Indemnity by 41.0% during the 4th quarter. UBS Group AG now owns 9,641 shares of the insurance provider’s stock worth $286,000 after purchasing an additional 2,801 shares in the last quarter. 55.96% of the stock is currently owned by institutional investors.
GBLI traded up $0.77 during midday trading on Thursday, reaching $25.49. The company’s stock had a trading volume of 42,868 shares, compared to its average volume of 16,091. The stock has a market cap of $366.24 million, a P/E ratio of 5.22 and a beta of 0.46. The company has a fifty day simple moving average of $30.27 and a 200 day simple moving average of $28.23. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.41. Global Indemnity has a twelve month low of $23.49 and a twelve month high of $34.65.
Global Indemnity (NASDAQ:GBLI) last released its earnings results on Thursday, February 20th. The insurance provider reported $0.96 earnings per share (EPS) for the quarter. The firm had revenue of $175.91 million for the quarter. Global Indemnity had a return on equity of 6.80% and a net margin of 11.58%.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Monday, March 23rd.
About Global Indemnity
Global Indemnity Limited, through its subsidiaries, provides insurance and reinsurance products and services in the United States and internationally. The company operates through three segments: Commercial Lines, Personal Lines, and Reinsurance Operations. The Commercial Lines segment distributes property, general liability, casualty, and professional lines products, as well as products for vacant, and under construction and renovation dwellings.
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