Global Indemnity Ltd (NASDAQ:GBLI) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 50,400 shares, a growth of 27.3% from the May 30th total of 39,600 shares. Based on an average trading volume of 13,000 shares, the short-interest ratio is currently 3.9 days. Approximately 0.6% of the shares of the company are sold short.
Separately, BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in shares of Global Indemnity by 658.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 1,527 shares during the period. Rhumbline Advisers lifted its stake in shares of Global Indemnity by 37.7% in the 4th quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock worth $487,000 after acquiring an additional 3,681 shares during the period. Bank of America Corp DE lifted its stake in shares of Global Indemnity by 83.9% in the 4th quarter. Bank of America Corp DE now owns 15,360 shares of the insurance provider’s stock worth $557,000 after acquiring an additional 7,008 shares during the period. Geode Capital Management LLC lifted its stake in shares of Global Indemnity by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock worth $3,186,000 after acquiring an additional 3,961 shares during the period. Finally, Boston Partners lifted its stake in shares of Global Indemnity by 1.9% in the 1st quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock worth $10,486,000 after acquiring an additional 6,374 shares during the period. Institutional investors own 56.09% of the company’s stock.
Shares of GBLI stock traded up $0.18 during mid-day trading on Friday, hitting $27.24. The stock had a trading volume of 18,364 shares, compared to its average volume of 12,664. Global Indemnity has a fifty-two week low of $26.01 and a fifty-two week high of $41.79. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.26 and a current ratio of 0.26. The company has a 50-day simple moving average of $29.78.
Global Indemnity (NASDAQ:GBLI) last released its earnings results on Friday, May 3rd. The insurance provider reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $1.02. Global Indemnity had a negative net margin of 8.24% and a negative return on equity of 3.44%. The company had revenue of $140.19 million during the quarter.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, June 20th.
Global Indemnity Company Profile
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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