BidaskClub Downgrades Global Indemnity (NASDAQ:GBLI) to Sell

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

GBLI stock opened at $27.24 on Friday. Global Indemnity has a 52-week low of $26.01 and a 52-week high of $41.79. The business’s fifty day simple moving average is $29.78. 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 data on Friday, May 3rd. The insurance provider reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter.

A number of institutional investors have recently modified their holdings of GBLI. Boston Partners boosted its stake in shares of Global Indemnity by 1.9% in 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 boosted 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. Bank of America Corp DE boosted its stake in shares of Global Indemnity by 83.9% in 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. Geode Capital Management LLC boosted its stake in shares of Global Indemnity by 4.7% in 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, BlackRock Inc. boosted its stake in shares of Global Indemnity by 2.3% in the fourth quarter. BlackRock Inc. now owns 691,910 shares of the insurance provider’s stock worth $25,069,000 after acquiring an additional 15,523 shares during the last quarter. Hedge funds and other institutional investors own 56.09% of the company’s stock.

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.

Further Reading: How is the Producer Price Index calculated?

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