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

BidaskClub upgraded shares of Global Indemnity (NASDAQ:GBLI) from a sell rating to a hold rating in a research report report published on Friday, BidAskClub reports.

NASDAQ:GBLI traded down $0.30 during trading hours on Friday, reaching $27.85. The company had a trading volume of 5,821 shares, compared to its average volume of 7,301. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.45. Global Indemnity has a 52 week low of $26.01 and a 52 week high of $41.79. The company’s 50 day simple moving average is $28.69.

Global Indemnity (NASDAQ:GBLI) last posted its earnings results on Friday, May 3rd. The insurance provider reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter.

A number of large investors have recently bought and sold shares of GBLI. BlackRock Inc. grew its position 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 purchasing an additional 15,523 shares during the period. Swiss National Bank grew its position in Global Indemnity by 113.9% in the 2nd quarter. Swiss National Bank now owns 16,900 shares of the insurance provider’s stock worth $523,000 after purchasing an additional 9,000 shares during the period. Bank of America Corp DE grew its position 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 purchasing an additional 7,008 shares during the period. Boston Partners grew its position 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 purchasing an additional 6,374 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Global Indemnity in the 2nd quarter worth approximately $133,000. 56.09% of the stock is 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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