Walleye Capital LLC Reduces Stock Position in Genie Energy Ltd. (NYSE:GNE)

Walleye Capital LLC lessened its stake in shares of Genie Energy Ltd. (NYSE:GNE) by 28.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,464 shares of the oil and gas producer’s stock after selling 9,168 shares during the quarter. Walleye Capital LLC’s holdings in Genie Energy were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 valued at $18,739,000 after buying an additional 12,806 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Genie Energy by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock valued at $202,000 after buying an additional 1,002 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Genie Energy in the 2nd quarter valued at about $179,000. Allspring Global Investments Holdings LLC grew its holdings in Genie Energy by 12.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 79,630 shares of the oil and gas producer’s stock valued at $1,164,000 after buying an additional 8,643 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Genie Energy by 10.0% in the 2nd quarter. Principal Financial Group Inc. now owns 32,355 shares of the oil and gas producer’s stock valued at $473,000 after buying an additional 2,941 shares during the period. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Genie Energy Stock Down 0.1 %

GNE opened at $14.48 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. The stock has a market capitalization of $393.86 million, a price-to-earnings ratio of 103.44 and a beta of 0.07. The business has a 50-day moving average of $15.91 and a two-hundred day moving average of $15.89. Genie Energy Ltd. has a 12 month low of $14.00 and a 12 month high of $30.90.

Genie Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Tuesday, November 12th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, November 12th. Genie Energy’s dividend payout ratio (DPR) is 214.30%.

Insider Buying and Selling at Genie Energy

In other news, CFO Avi Goldin sold 7,300 shares of Genie Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $15.42, for a total value of $112,566.00. Following the transaction, the chief financial officer now directly owns 127,699 shares of the company’s stock, valued at $1,969,118.58. The trade was a 5.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James A. Courter sold 3,675 shares of Genie Energy stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 304,411 shares in the company, valued at $5,232,825.09. This represents a 1.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,275 shares of company stock worth $215,276 in the last 90 days. 16.50% of the stock is owned by company insiders.

Genie Energy 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.