Insider Selling: Genie Energy Ltd. (NYSE:GNE) Director Sells 2,920 Shares of Stock

Genie Energy Ltd. (NYSE:GNE) Director Allan Sass sold 2,920 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $17.72, for a total value of $51,742.40. Following the completion of the sale, the director now owns 38,690 shares in the company, valued at approximately $685,586.80. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Genie Energy Stock Performance

Shares of GNE opened at $19.20 on Tuesday. The firm has a market cap of $518.59 million, a PE ratio of 137.15 and a beta of -0.02. The stock’s fifty day moving average price is $15.37 and its two-hundred day moving average price is $15.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.56 and a quick ratio of 2.47. Genie Energy Ltd. has a 1 year low of $13.05 and a 1 year high of $19.25.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas producer reported $0.42 earnings per share for the quarter. The company had revenue of $136.81 million during the quarter. Genie Energy had a return on equity of 21.48% and a net margin of 0.80%.

Genie Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, May 19th. Genie Energy’s dividend payout ratio (DPR) is presently 214.29%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Genie Energy from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 7th.

Hedge Funds Weigh In On Genie Energy

Several hedge funds have recently made changes to their positions in GNE. Barclays PLC grew its position in shares of Genie Energy by 234.6% in the third quarter. Barclays PLC now owns 20,617 shares of the oil and gas producer’s stock valued at $334,000 after purchasing an additional 14,455 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Genie Energy in the fourth quarter valued at $107,000. R Squared Ltd purchased a new position in shares of Genie Energy in the fourth quarter valued at $37,000. Americana Partners LLC grew its position in shares of Genie Energy by 37.8% in the fourth quarter. Americana Partners LLC now owns 159,200 shares of the oil and gas producer’s stock valued at $2,482,000 after purchasing an additional 43,655 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Genie Energy by 24.3% in the fourth quarter. Bank of New York Mellon Corp now owns 166,695 shares of the oil and gas producer’s stock valued at $2,599,000 after purchasing an additional 32,630 shares in the last quarter. 49.15% of the stock is currently owned by hedge funds and other institutional investors.

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.