Global Indemnity Group, LLC (NASDAQ:GBLI) Short Interest Down 56.7% in August

Key Points

• Global Indemnity Group’s short interest fell 56.7% to 11,692 shares as of August 14, representing approximately 0.2% of shares outstanding and 2.9 days of average trading volume.
• GBLI shares recently traded at $29.62, near their 12-month high of $30.52. The company reported quarterly EPS of $0.59, missing analyst estimates of $0.63, on revenue of $116.1 million.
• The company maintains a quarterly dividend of $0.35 per share, equivalent to a 4.7% annualized yield, while analysts and Weiss Ratings hold a generally neutral view of the stock.

Global Indemnity Group, LLC (NASDAQ:GBLI - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 11,692 shares, a decline of 56.7% from the July 30th total of 26,976 shares. Approximately 0.2% of the company's stock are short sold. Based on an average daily volume of 4,084 shares, the short-interest ratio is presently 2.9 days.

Global Indemnity Group Stock Performance

NASDAQ GBLI traded up $0.62 on Friday, reaching $29.62. The stock had a trading volume of 8,503 shares, compared to its average volume of 4,517. The stock has a market cap of $432.75 million, a P/E ratio of 12.60 and a beta of 0.41. Global Indemnity Group has a 12-month low of $24.28 and a 12-month high of $30.52. The business's 50-day moving average price is $26.87 and its 200 day moving average price is $27.34.

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

Global Indemnity Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Thursday, June 18th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $1.40 annualized dividend and a dividend yield of 4.7%. Global Indemnity Group's dividend payout ratio (DPR) is currently 59.57%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Global Indemnity Group

Several institutional investors have recently bought and sold shares of GBLI. Ameriprise Financial Inc. lifted its stake in shares of Global Indemnity Group by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 298,435 shares of the insurance provider's stock worth $9,359,000 after acquiring an additional 2,565 shares during the period. Cannell Capital LLC lifted its position in 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 during the period. State of Wyoming lifted its position in Global Indemnity Group by 70.5% in the second quarter. State of Wyoming now owns 4,524 shares of the insurance provider's stock valued at $142,000 after purchasing an additional 1,870 shares during the period. Boston Partners boosted its holdings in Global Indemnity Group by 5.0% in the 3rd 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. Finally, Clearstead Advisors LLC increased its position 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 worth $41,000 after purchasing an additional 954 shares during the period. 37.40% of the stock is owned by institutional investors and hedge funds.

Global Indemnity Group Company Profile

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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