Global Indemnity (GBLI) Downgraded by BidaskClub to “Sell”

Global Indemnity (NASDAQ:GBLI) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

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

Shares of GBLI stock opened at $34.03 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $504.63 million, a P/E ratio of 48.63 and a beta of 0.97. Global Indemnity has a 52 week low of $31.78 and a 52 week high of $49.91.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Global Indemnity by 1.1% in the third quarter. BlackRock Inc. now owns 676,387 shares of the insurance provider’s stock worth $25,499,000 after purchasing an additional 7,422 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Global Indemnity by 7.6% in the second quarter. Renaissance Technologies LLC now owns 117,664 shares of the insurance provider’s stock worth $4,587,000 after purchasing an additional 8,300 shares in the last quarter. Brown Advisory Inc. bought a new position in Global Indemnity in the second quarter worth $621,000. Finally, First Trust Advisors LP raised its holdings in Global Indemnity by 18.3% in the second quarter. First Trust Advisors LP now owns 8,221 shares of the insurance provider’s stock worth $320,000 after purchasing an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 55.75% 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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