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

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 9,400 shares, agrowthof44.6% from the July 15th total of 6,500 shares. Currently,0.1% of the shares of the stock are short sold. Based on an average daily volume of 3,900 shares, the days-to-cover ratio is presently 2.4 days. Based on an average daily volume of 3,900 shares, the days-to-cover ratio is presently 2.4 days. Currently,0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Wall Street Zen assumed coverage on shares of Global Indemnity Group in a report on Sunday, May 18th. They issued a "buy" rating for the company.

Insider Activity

In related news, CEO Praveen Kotha Reddy purchased 2,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $28.30 per share, for a total transaction of $56,600.00. Following the acquisition, the chief executive officer directly owned 5,100 shares of the company's stock, valued at $144,330. This trade represents a 64.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 2,206 shares of company stock valued at $62,572. Company insiders own 52.50% of the company's stock.

Institutional Investors Weigh In On Global Indemnity Group

Large investors have recently added to or reduced their stakes in the business. Boston Partners grew its stake in Global Indemnity Group by 25.9% in the 1st quarter. Boston Partners now owns 130,833 shares of the insurance provider's stock valued at $4,507,000 after acquiring an additional 26,886 shares during the last quarter. State of Wyoming grew its stake in Global Indemnity Group by 56.3% in the 4th quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock valued at $68,000 after acquiring an additional 685 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Global Indemnity Group by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock valued at $9,359,000 after acquiring an additional 2,565 shares during the last quarter. Finally, Cannell Capital LLC grew its stake in Global Indemnity Group by 1.4% in the 2nd quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock valued at $8,853,000 after acquiring an additional 3,841 shares during the last quarter. 37.40% of the stock is owned by institutional investors and hedge funds.

Global Indemnity Group Stock Performance

NASDAQ GBLI traded up $0.4450 during trading hours on Friday, reaching $29.6450. The company's stock had a trading volume of 207 shares, compared to its average volume of 4,601. The stock has a market cap of $423.80 million, a PE ratio of 10.19 and a beta of 0.44. Global Indemnity Group has a fifty-two week low of $26.94 and a fifty-two week high of $37.00. The company's 50-day moving average is $30.80 and its two-hundred day moving average is $31.74.

Global Indemnity Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 20th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Friday, June 20th. Global Indemnity Group's dividend payout ratio is presently 70.71%.

Global Indemnity Group Company Profile

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.