Global Indemnity (GBLI) Downgraded by BidaskClub to Strong Sell

Global Indemnity (NASDAQ:GBLI) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, September 14th.

Separately, TheStreet cut Global Indemnity from a “b” rating to a “c+” rating in a report on Friday, August 17th.

GBLI traded down $0.90 on Friday, reaching $37.09. 11,044 shares of the company’s stock were exchanged, compared to its average volume of 18,310. The company has a market cap of $535.91 million, a PE ratio of 51.64 and a beta of 0.94. Global Indemnity has a twelve month low of $32.22 and a twelve month high of $49.91. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.26 and a current ratio of 0.26.

Global Indemnity (NASDAQ:GBLI) last posted its earnings results on Tuesday, August 7th. The insurance provider reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $128.03 million during the quarter. Global Indemnity had a negative net margin of 3.87% and a positive return on equity of 1.06%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its holdings in Global Indemnity by 18.3% in the 2nd quarter. First Trust Advisors LP now owns 8,221 shares of the insurance provider’s stock worth $320,000 after acquiring an additional 1,273 shares during the period. Brown Advisory Inc. purchased a new position in Global Indemnity in the 2nd quarter worth approximately $621,000. Cove Street Capital LLC purchased a new position in Global Indemnity in the 1st quarter worth approximately $1,155,000. Schwab Charles Investment Management Inc. boosted its holdings in Global Indemnity by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 42,513 shares of the insurance provider’s stock worth $1,468,000 after acquiring an additional 3,404 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Global Indemnity by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 117,664 shares of the insurance provider’s stock worth $4,587,000 after acquiring an additional 8,300 shares during the period. Hedge funds and other institutional investors own 55.81% 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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