Global Indemnity Group (NASDAQ:GBLI) Stock Crosses Above 200-Day Moving Average of $31.19

Global Indemnity Group, LLC (NASDAQ:GBLI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $31.19 and traded as high as $32.95. Global Indemnity Group shares last traded at $32.50, with a volume of 2,373 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Global Indemnity Group in a research note on Thursday, September 12th. They issued a “buy” rating for the company.

Global Indemnity Group Stock Performance

The firm’s 50 day moving average is $31.49 and its two-hundred day moving average is $31.19. The stock has a market capitalization of $442 million, a PE ratio of 13.10 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last posted its earnings results on Wednesday, August 7th. The insurance provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.19. Global Indemnity Group had a return on equity of 5.79% and a net margin of 7.66%. The firm had revenue of $108.69 million during the quarter, compared to analysts’ expectations of $114.00 million. On average, analysts anticipate that Global Indemnity Group, LLC will post 2.71 EPS for the current year.

Institutional Trading of Global Indemnity Group

Several hedge funds have recently modified their holdings of the business. Innealta Capital LLC acquired a new position in Global Indemnity Group during the second quarter worth about $55,000. Harbor Capital Advisors Inc. boosted its holdings in Global Indemnity Group by 223.7% in the second quarter. Harbor Capital Advisors Inc. now owns 28,696 shares of the insurance provider’s stock valued at $892,000 after acquiring an additional 19,830 shares during the last quarter. Boston Partners acquired a new position in shares of Global Indemnity Group in the 1st quarter valued at about $2,488,000. Finally, Cannell Capital LLC acquired a new position in shares of Global Indemnity Group during the 4th quarter valued at $3,562,000. 37.40% of the stock is owned by institutional investors and hedge funds.

About Global Indemnity Group

Global Indemnity Group, LLC, through its subsidiaries, provides specialty property and casualty insurance, and reinsurance products worldwide. It operates in two segments, Penn-America and Non-Core Operations. The company distributes property and general liability products for small commercial businesses through a network of wholesale general agents; and property and general liability niche products through program administrators with specific binding authority.