BidaskClub Downgrades Global Indemnity (NASDAQ:GBLI) to Sell

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

GBLI stock opened at $26.07 on Tuesday. Global Indemnity has a 12-month low of $24.62 and a 12-month high of $41.77. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.42. The company has a 50 day moving average of $27.29 and a two-hundred day moving average of $30.89.

Global Indemnity (NASDAQ:GBLI) last released its earnings results on Wednesday, August 7th. The insurance provider reported $1.02 earnings per share (EPS) for the quarter. Global Indemnity had a negative net margin of 6.57% and a negative return on equity of 2.95%. The company had revenue of $146.14 million during the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of Global Indemnity by 142.3% during the 2nd quarter. Bank of Montreal Can now owns 1,112 shares of the insurance provider’s stock worth $34,000 after purchasing an additional 653 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Global Indemnity by 658.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,759 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 1,527 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Global Indemnity during the 2nd quarter worth $133,000. Swiss National Bank increased its stake in shares of Global Indemnity by 113.9% during 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 last quarter. Finally, Bank of America Corp DE increased its stake in shares of Global Indemnity by 83.9% during 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 last quarter. 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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