Global Indemnity Group, LLC (NASDAQ:GBLI) Sees Large Increase in Short Interest

Key Points

• Short interest more than doubled to 26,976 shares as of July 31, up 104.6% from mid-July. Short interest represented about 0.3% of shares outstanding, with a 6.9-day short-interest ratio.
• Global Indemnity Group’s stock recently traded at $27.07, within its 52-week range of $24.28 to $30.52. The company reported quarterly EPS of $0.59, below analysts’ $0.63 consensus estimate.
• Weiss Ratings downgraded the stock’s “Hold” grade from C to C-, while institutional investors collectively owned 37.4% of the company. GBLI also maintains a quarterly dividend of $0.35, representing a 5.2% annualized yield.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 26,976 shares, a growth of 104.6% from the July 15th total of 13,185 shares. Based on an average trading volume of 3,927 shares, the short-interest ratio is currently 6.9 days. Approximately 0.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Global Indemnity Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Global Indemnity Group currently has an average rating of "Hold".

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GBLI. State of Wyoming grew its stake in Global Indemnity Group by 23.8% in the 4th quarter. State of Wyoming now owns 4,898 shares of the insurance provider's stock valued at $139,000 after acquiring an additional 942 shares during the last quarter. Clearstead Advisors LLC increased its holdings in Global Indemnity Group by 190.8% during the 4th quarter. Clearstead Advisors LLC now owns 1,454 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 954 shares in the last quarter. Ameriprise Financial Inc. raised its position in Global Indemnity Group by 0.4% during the third quarter. Ameriprise Financial Inc. now owns 299,626 shares of the insurance provider's stock worth $8,704,000 after acquiring an additional 1,191 shares during the last quarter. Cannell Capital LLC raised its position in Global Indemnity Group by 1.4% during the second quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock worth $8,853,000 after acquiring an additional 3,841 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Global Indemnity Group by 5.0% in the third quarter. Boston Partners now owns 137,170 shares of the insurance provider's stock valued at $3,985,000 after purchasing an additional 6,552 shares in the last quarter. Institutional investors and hedge funds own 37.40% of the company's stock.

Global Indemnity Group Stock Performance

GBLI traded down $1.23 on Friday, hitting $27.07. 7,893 shares of the company were exchanged, compared to its average volume of 4,181. The business's fifty day moving average is $26.49 and its 200 day moving average is $27.42. Global Indemnity Group has a fifty-two week low of $24.28 and a fifty-two week high of $30.52. The firm has a market capitalization of $395.47 million, a P/E ratio of 11.52 and a beta of 0.41.

Global Indemnity Group (NASDAQ:GBLI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The insurance provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.04). Global Indemnity Group had a net margin of 7.50% and a return on equity of 5.56%. The company had revenue of $116.10 million for the quarter. Analysts forecast that Global Indemnity Group will post 2.68 EPS for the current fiscal year.

Global Indemnity Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 18th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.40 annualized dividend and a yield of 5.2%. Global Indemnity Group's dividend payout ratio is 59.57%.

About Global Indemnity Group

Global Indemnity Group NASDAQ: GBLI is a specialty property and casualty insurance holding company headquartered in Princeton, New Jersey. Through its subsidiaries, the company focuses on underwriting commercial niche insurance products designed to meet the needs of small to mid-sized businesses and select specialty markets. Its approach centers on disciplined underwriting, customized policy structures and targeted distribution channels to address coverage gaps often underserved by standard carriers.

The company's product portfolio encompasses surety and fidelity bonds, workers' compensation, general liability, commercial auto, professional liability and environmental liability.

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