Genie Energy Ltd. (NYSE:GNE) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP increased its holdings in Genie Energy Ltd. (NYSE:GNE) by 269.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,871 shares of the oil and gas producer’s stock after purchasing an additional 45,125 shares during the quarter. GSA Capital Partners LLP’s holdings in Genie Energy were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its stake 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 acquiring an additional 1,002 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Genie Energy by 1.3% in the third 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 purchasing an additional 1,046 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Genie Energy by 5.8% during the first quarter. BNP Paribas Financial Markets now owns 23,114 shares of the oil and gas producer’s stock worth $349,000 after purchasing an additional 1,267 shares in the last quarter. Point72 DIFC Ltd increased its stake in shares of Genie Energy by 11,831.6% during the second quarter. Point72 DIFC Ltd now owns 2,267 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 2,248 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Genie Energy by 10.0% during the 2nd quarter. Principal Financial Group Inc. now owns 32,355 shares of the oil and gas producer’s stock worth $473,000 after purchasing an additional 2,941 shares during the last quarter. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Genie Energy Stock Up 0.1 %

Shares of GNE opened at $15.79 on Friday. The stock has a 50 day moving average price of $16.37 and a 200 day moving average price of $15.89. Genie Energy Ltd. has a one year low of $14.00 and a one year high of $30.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. The stock has a market capitalization of $424.64 million, a price-to-earnings ratio of 112.79 and a beta of 0.09.

Genie Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Tuesday, November 12th. Genie Energy’s payout ratio is 214.29%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Genie Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Insider Activity

In other news, CFO Avi Goldin sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $17.19, for a total value of $39,537.00. Following the completion of the sale, the chief financial officer now directly owns 134,999 shares in the company, valued at $2,320,632.81. This represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James A. Courter sold 3,675 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. This represents a 1.19 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

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.