Martingale Asset Management L P Has $598,000 Stake in Genie Energy Ltd. (NYSE:GNE)

Martingale Asset Management L P boosted its stake in Genie Energy Ltd. (NYSE:GNE) by 16.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,791 shares of the oil and gas producer’s stock after acquiring an additional 5,197 shares during the quarter. Martingale Asset Management L P owned 0.14% of Genie Energy worth $598,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Genie Energy by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,242,612 shares of the oil and gas producer’s stock worth $18,739,000 after buying an additional 12,806 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Genie Energy by 8.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,359 shares of the oil and gas producer’s stock worth $202,000 after acquiring an additional 1,002 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Genie Energy in the second quarter valued at approximately $179,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Genie Energy by 12.2% in the second 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 purchasing an additional 8,643 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Genie Energy by 10.0% in the second 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 in the last quarter. 49.15% of the stock is owned by institutional investors and hedge funds.

Genie Energy Stock Down 2.8 %

Genie Energy stock opened at $14.93 on Wednesday. The company has a fifty day simple moving average of $16.05 and a 200 day simple moving average of $15.91. 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 1-year low of $14.00 and a 1-year high of $30.90. The company has a market cap of $406.10 million, a P/E ratio of 106.65 and a beta of 0.07.

Genie Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 12th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Tuesday, November 12th. Genie Energy’s dividend payout ratio is currently 214.30%.

Insider Buying and Selling

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

About Genie Energy

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.