Global Indemnity (GBLI) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Global Indemnity (NASDAQ:GBLI) from a strong sell rating to a sell rating in a research note issued to investors on Tuesday morning, BidAskClub reports.

Shares of NASDAQ GBLI traded up $2.26 during midday trading on Tuesday, hitting $31.40. The stock had a trading volume of 33,485 shares, compared to its average volume of 14,092. Global Indemnity has a 1 year low of $26.01 and a 1 year high of $42.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.32 and a current ratio of 0.32.

Global Indemnity (NASDAQ:GBLI) last released its earnings results on Friday, May 3rd. The insurance provider reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $1.02. Global Indemnity had a negative return on equity of 4.58% and a negative net margin of 11.36%. The business had revenue of $140.19 million for the quarter.

Institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System acquired a new stake in Global Indemnity during the first quarter worth $246,000. Boston Partners increased its stake in Global Indemnity by 1.9% during the first quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock worth $10,486,000 after acquiring an additional 6,374 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Global Indemnity by 658.2% during the first quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 1,527 shares during the last quarter. Geode Capital Management LLC increased its stake in Global Indemnity by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock worth $3,186,000 after acquiring an additional 3,961 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Global Indemnity by 83.9% during the fourth quarter. Bank of America Corp DE now owns 15,360 shares of the insurance provider’s stock worth $557,000 after acquiring an additional 7,008 shares during the last quarter. Hedge funds and other institutional investors own 55.91% 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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