Global Indemnity (NASDAQ:GBLI) Rating Increased to Hold at BidaskClub

Global Indemnity (NASDAQ:GBLI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday, July 6th, BidAskClub reports.

NASDAQ GBLI opened at $27.24 on Friday. The company has a 50 day simple moving average of $29.78. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.45. Global Indemnity has a 12-month low of $26.01 and a 12-month high of $41.79.

Global Indemnity (NASDAQ:GBLI) last announced its earnings results on Friday, May 3rd. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.35 by $1.02. Global Indemnity had a negative net margin of 8.24% and a negative return on equity of 3.44%. The business had revenue of $140.19 million for the quarter.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its position in Global Indemnity by 658.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock worth $53,000 after buying an additional 1,527 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Global Indemnity by 37.7% in the 4th quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock valued at $487,000 after acquiring an additional 3,681 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Global Indemnity by 83.9% in the 4th quarter. Bank of America Corp DE now owns 15,360 shares of the insurance provider’s stock valued at $557,000 after acquiring an additional 7,008 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Global Indemnity by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock valued at $3,186,000 after acquiring an additional 3,961 shares during the last quarter. Finally, Boston Partners increased its stake in Global Indemnity by 1.9% during the 1st quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock worth $10,486,000 after purchasing an additional 6,374 shares in the last quarter. Institutional investors and hedge funds own 56.09% of the company’s stock.

About Global Indemnity

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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