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

Global Indemnity Group, LLC (NASDAQ:GBLI)’s share 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 changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Global Indemnity Group in a report on Thursday, September 12th. They set a “buy” rating for the company.

Global Indemnity Group Stock Performance

The business’s 50-day simple moving average is $31.49 and its 200 day simple moving average is $31.19. The firm has a market cap of $442 million, a P/E ratio of 13.10 and a beta of 0.43.

Global Indemnity Group (NASDAQ:GBLI) last issued 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. The company had revenue of $108.69 million during the quarter, compared to the consensus estimate of $114.00 million. Global Indemnity Group had a net margin of 7.66% and a return on equity of 5.79%. As a group, equities research analysts expect that Global Indemnity Group, LLC will post 2.71 EPS for the current year.

Institutional Trading of Global Indemnity Group

Several institutional investors and hedge funds have recently modified their holdings of GBLI. Cannell Capital LLC bought a new stake in Global Indemnity Group during the fourth quarter valued at about $3,562,000. Boston Partners purchased a new position in shares of Global Indemnity Group during the 1st quarter valued at approximately $2,488,000. Harbor Capital Advisors Inc. raised its position in shares of 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 worth $892,000 after acquiring an additional 19,830 shares during the period. Finally, Innealta Capital LLC acquired a new position in Global Indemnity Group in the 2nd quarter worth about $55,000. Institutional investors own 37.40% of the company’s stock.

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.