Global Indemnity Group, LLC (NASDAQ:GBLI) Sees Significant Drop in Short-Term Interest

Global Indemnity Group, LLC (NASDAQ:GBLI) was the target of a sharp decline in short interest in January. As of January 31, there was short interest totaling 5,900 shares, down 51.2% from the total of 12,100 shares as of January 15. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume of 13,800 shares, the day-to-cover ratio is currently 0.4 days.

Separately, director Joseph W. Brown acquired 10,000 shares of the company in a transaction that took place on Monday, November 15. The shares were purchased at an average cost of $26.90 per share, for a total transaction of $269,000.00. The acquisition was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, director Bruce R. Lederman acquired 2,000 shares of the company in a transaction that took place on Thursday, December 9. The shares were purchased at an average price of $25.97 per share, with a total value of $51,940.00. Disclosure of this purchase can be found here. Insiders acquired a total of 14,000 shares of the company valued at $372,440 during the last quarter. Insiders of the company hold 43.70% of the shares of the company.

Hedge funds have recently been buying and selling stocks. Bank of America Corp DE increased its position in Global Indemnity Group shares by 29,282.9% in the second quarter. Bank of America Corp DE now owns 44,662 shares of the insurance provider worth $1,204,000 after purchasing an additional 44,510 shares during the period. Renaissance Technologies LLC increased its stake in Global Indemnity Group by 1.2% in the second quarter. Renaissance Technologies LLC now owns 75,634 shares of the insurance provider valued at $2,038,000 after buying an additional 900 shares last quarter. PEAK6 Investments LLC acquired a new stake in shares of Global Indemnity Group during the second quarter valued at approximately $404,000. Morgan Stanley increased its stake in shares of Global Indemnity Group by 56.8% during the second quarter. Morgan Stanley now owns 13,893 shares of the insurance provider valued at $375,000 after acquiring an additional 5,032 shares last quarter. Finally, Cullen Frost Bankers Inc. increased its stake in Global Indemnity Group by 28.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 9,000 shares of the insurance provider worth $226,000 after buying an additional 2,000 shares in the last quarter. 95.12% of the shares are currently held by hedge funds and other institutional investors.

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Shares of GBLI traded down $0.16 during the midday session on Friday, hitting $26.09. The stock had a trading volume of 974 shares, compared to an average volume of 17,937 shares. The company’s 50-day moving average is $25.90 and its 200-day moving average is $26.19. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt ratio of 0.18. The company has a market capitalization of $377.81 million, a price-earnings ratio of 76.74 and a beta of 0.25. Global Indemnity Group has a 1 year minimum of $23.97 and a 1 year maximum of $31.98.

The company also recently declared a quarterly dividend, which was paid on Friday, December 31. Investors of record on Monday, December 20 received a dividend of $0.25. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Friday, December 17. Global Indemnity Group’s dividend payout ratio is currently 294.13%.

Global Indemnity Group Company Profile

Global Indemnity Group LLC is committed to providing diversified insurance and reinsurance services. It operates through the following segments: Commercial Specialty; specialized property; Farm, ranch and stable; and reinsurance operations. The Commercial Specialty segment provides specialty and liability insurance products designed for product lines such as small business binding authority, real estate brokerage, vacant express and programs.

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