Global Indemnity (NASDAQ:GBLI) Upgraded by BidaskClub to “Hold”

Global Indemnity (NASDAQ:GBLI) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Shares of GBLI traded down $0.56 during mid-day trading on Tuesday, reaching $29.32. The company’s stock had a trading volume of 7,041 shares, compared to its average volume of 13,742. 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 0.45, a quick ratio of 0.26 and a current ratio of 0.26.

Global Indemnity (NASDAQ:GBLI) last posted its quarterly earnings results on Friday, May 3rd. The insurance provider reported $1.37 earnings per share 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.

Several hedge funds and other institutional investors have recently bought and sold shares of GBLI. Ramsey Quantitative Systems acquired a new position in shares of Global Indemnity in the fourth quarter worth $27,000. BNP Paribas Arbitrage SA increased its stake in shares of Global Indemnity by 658.2% in 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. SEI Investments Co acquired a new position in shares of Global Indemnity in the first quarter worth $185,000. California Public Employees Retirement System acquired a new position in shares of Global Indemnity in the first quarter worth $246,000. Finally, Wells Fargo & Company MN increased its stake in shares of Global Indemnity by 4.2% in the first quarter. Wells Fargo & Company MN now owns 10,006 shares of the insurance provider’s stock worth $304,000 after acquiring an additional 402 shares during the last quarter. 56.09% of the stock is currently owned by institutional investors and hedge funds.

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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