BidaskClub Lowers Global Indemnity (GBLI) to Hold

Global Indemnity (NASDAQ:GBLI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

NASDAQ:GBLI opened at $34.97 on Friday. Global Indemnity has a fifty-two week low of $31.78 and a fifty-two week high of $43.49. The firm has a market cap of $508.72 million, a P/E ratio of 30.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.25 and a current ratio of 0.25.

Global Indemnity (NASDAQ:GBLI) last released its quarterly earnings results on Wednesday, November 7th. The insurance provider reported ($0.03) earnings per share for the quarter. Global Indemnity had a negative net margin of 1.25% and a positive return on equity of 2.21%. The company had revenue of $138.01 million for the quarter.

In other Global Indemnity news, Director James D. Wehr acquired 3,000 shares of the business’s stock in a transaction on Monday, November 26th. The shares were bought at an average price of $34.14 per share, with a total value of $102,420.00. Following the transaction, the director now directly owns 3,040 shares of the company’s stock, valued at approximately $103,785.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 41.40% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its position in Global Indemnity by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 117,664 shares of the insurance provider’s stock valued at $4,587,000 after acquiring an additional 8,300 shares during the last quarter. BlackRock Inc. grew its position in Global Indemnity by 7.3% in the 2nd quarter. BlackRock Inc. now owns 668,965 shares of the insurance provider’s stock valued at $26,076,000 after acquiring an additional 45,321 shares during the last quarter. Citadel Advisors LLC bought a new position in Global Indemnity in the 3rd quarter valued at $326,000. First Trust Advisors LP grew its position in Global Indemnity by 18.3% in the 2nd quarter. First Trust Advisors LP now owns 8,221 shares of the insurance provider’s stock valued at $320,000 after acquiring an additional 1,273 shares during the last quarter. Finally, Teachers Advisors LLC grew its position in Global Indemnity by 3.5% in the 3rd quarter. Teachers Advisors LLC now owns 15,176 shares of the insurance provider’s stock valued at $572,000 after acquiring an additional 510 shares during the last quarter. 56.13% of the stock is currently owned by institutional investors.

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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