Global Indemnity Ltd (NASDAQ:GBLI) Short Interest Up 27.3% in June

Global Indemnity Ltd (NASDAQ:GBLI) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 50,400 shares, a growth of 27.3% from the May 30th total of 39,600 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is presently 3.9 days.

Separately, BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Global Indemnity by 2.3% in the 4th quarter. BlackRock Inc. now owns 691,910 shares of the insurance provider’s stock worth $25,069,000 after buying an additional 15,523 shares in the last quarter. Boston Partners grew its holdings in Global Indemnity by 1.9% in the 1st quarter. Boston Partners now owns 345,157 shares of the insurance provider’s stock worth $10,486,000 after buying an additional 6,374 shares in the last quarter. Geode Capital Management LLC grew its holdings in Global Indemnity by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 87,944 shares of the insurance provider’s stock worth $3,186,000 after buying an additional 3,961 shares in the last quarter. Bank of America Corp DE grew its holdings in 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 worth $557,000 after buying an additional 7,008 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in Global Indemnity by 37.7% in the 4th quarter. Rhumbline Advisers now owns 13,449 shares of the insurance provider’s stock worth $487,000 after buying an additional 3,681 shares in the last quarter. 56.09% of the stock is owned by institutional investors and hedge funds.

GBLI stock traded up $0.18 on Friday, reaching $27.24. The company’s stock had a trading volume of 18,300 shares, compared to its average volume of 13,867. Global Indemnity has a 52 week low of $26.01 and a 52 week high of $41.79. The business has a fifty day simple moving average of $29.88. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.26 and a quick ratio of 0.26.

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

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, June 20th.

Global Indemnity Company Profile

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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