Algert Global LLC Trims Stake in Genie Energy Ltd. (NYSE:GNE)

Algert Global LLC cut its holdings in Genie Energy Ltd. (NYSE:GNE) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,166 shares of the oil and gas producer’s stock after selling 1,632 shares during the period. Algert Global LLC owned 0.14% of Genie Energy worth $620,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Genie Energy by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,242,612 shares of the oil and gas producer’s stock worth $18,739,000 after purchasing an additional 12,806 shares during the period. Americana Partners LLC increased its position in Genie Energy by 313.8% in the third quarter. Americana Partners LLC now owns 115,545 shares of the oil and gas producer’s stock worth $1,878,000 after buying an additional 87,625 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Genie Energy by 118.5% in the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock worth $1,533,000 after buying an additional 51,160 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Genie Energy by 1.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,676 shares of the oil and gas producer’s stock valued at $1,311,000 after buying an additional 1,046 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Genie Energy by 102.5% during the 2nd quarter. AQR Capital Management LLC now owns 76,309 shares of the oil and gas producer’s stock valued at $1,116,000 after acquiring an additional 38,632 shares during the period. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Insider Activity at Genie Energy

In related news, CFO Avi Goldin sold 7,300 shares of Genie Energy stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $15.42, for a total transaction of $112,566.00. Following the sale, the chief financial officer now owns 127,699 shares of the company’s stock, valued at approximately $1,969,118.58. This trade represents a 5.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Courter sold 3,675 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the completion of the transaction, the director now owns 304,411 shares of the company’s stock, valued at $5,232,825.09. The trade was a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,275 shares of company stock worth $215,276. 16.50% of the stock is owned by corporate insiders.

Genie Energy Trading Down 1.5 %

Genie Energy stock opened at $15.26 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.47 and a debt-to-equity ratio of 0.01. Genie Energy Ltd. has a 12-month low of $14.00 and a 12-month high of $30.90. The firm has a market capitalization of $415.07 million, a price-to-earnings ratio of 109.00 and a beta of 0.09. The firm has a 50 day moving average of $16.12 and a 200 day moving average of $15.91.

Genie Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.30 annualized dividend and a dividend yield of 1.97%. Genie Energy’s payout ratio is 214.29%.

Genie Energy Company Profile

Genie Energy Ltd., through its subsidiaries, engages in the supply of electricity and natural gas to residential and small business customers in the United States and internationally. It operates in two segments, GRE and Genie Renewables. The company also develops, constructs, and operates solar energy projects for commercial and industrial customers, as well as its own portfolio; provides energy brokerage and advisory services; markets community solar energy solutions; and manufactures and distributes solar panel, as well as engages in solar installation design and project management activities.