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

Key Points

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Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) was the recipient of a significant 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. Based on an average trading volume of 3,900 shares, the days-to-cover ratio is presently 2.4 days. Approximately0.1% of the shares of the company are sold short. Approximately0.1% of the shares of the company are sold short. Based on an average trading volume of 3,900 shares, the days-to-cover ratio is presently 2.4 days.

Insider Transactions at Global Indemnity Group

In other Global Indemnity Group news, CEO Praveen Kotha Reddy bought 2,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $28.30 per share, with a total value of $56,600.00. Following the acquisition, the chief executive officer owned 5,100 shares of the company's stock, valued at $144,330. The trade was a 64.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 2,206 shares of company stock worth $62,572 over the last 90 days. Corporate insiders own 52.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming lifted its holdings in shares of Global Indemnity Group by 56.3% in the fourth quarter. State of Wyoming now owns 1,901 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 685 shares in the last quarter. Ameriprise Financial Inc. increased its position in Global Indemnity Group by 0.9% in the second quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock worth $9,359,000 after buying an additional 2,565 shares during the last quarter. Cannell Capital LLC grew its position in shares of Global Indemnity Group by 1.4% in the second quarter. Cannell Capital LLC now owns 282,313 shares of the insurance provider's stock valued at $8,853,000 after purchasing an additional 3,841 shares in the last quarter. Finally, Boston Partners grew its position in shares of Global Indemnity Group by 25.9% in the first quarter. Boston Partners now owns 130,833 shares of the insurance provider's stock valued at $4,507,000 after purchasing an additional 26,886 shares in the last quarter. Institutional investors own 37.40% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen began coverage on Global Indemnity Group in a report on Sunday, May 18th. They set a "buy" rating on the stock.

Global Indemnity Group Stock Performance

Shares of GBLI stock traded up $0.4450 on Friday, hitting $29.6450. The company had a trading volume of 207 shares, compared to its average volume of 4,601. The firm has a market cap of $423.80 million, a P/E ratio of 10.19 and a beta of 0.44. The stock's 50-day moving average is $30.80 and its two-hundred day moving average is $31.72. Global Indemnity Group has a twelve month low of $26.94 and a twelve month high of $37.00.

Global Indemnity Group Announces Dividend

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

About Global Indemnity Group

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.