Insider Selling: Genie Energy Ltd. (GNE) Director Sells $29,750.00 in Stock

Genie Energy Ltd. (NYSE:GNE) Director James A. Courter sold 5,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $5.95, for a total transaction of $29,750.00. Following the completion of the transaction, the director now directly owns 316,983 shares in the company, valued at $1,886,048.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Genie Energy Ltd. (GNE) traded down 1.20% during mid-day trading on Friday, reaching $5.75. 69,319 shares of the company were exchanged. The firm’s market capitalization is $141.89 million. Genie Energy Ltd. has a 12 month low of $5.07 and a 12 month high of $8.31. The company’s 50-day moving average is $6.55 and its 200 day moving average is $6.82.

Genie Energy (NYSE:GNE) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas producer reported ($0.50) earnings per share (EPS) for the quarter. Genie Energy had a negative net margin of 18.10% and a negative return on equity of 25.81%. The firm had revenue of $52.21 million for the quarter. Analysts predict that Genie Energy Ltd. will post ($0.77) EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, August 11th. Genie Energy’s dividend payout ratio (DPR) is -16.22%.

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Separately, TheStreet cut shares of Genie Energy from a “c-” rating to a “d+” rating in a research note on Thursday, August 3rd.

Several institutional investors have recently made changes to their positions in GNE. Eagle Global Advisors LLC purchased a new position in shares of Genie Energy during the second quarter valued at about $111,000. Rhumbline Advisers increased its stake in Genie Energy by 0.8% in the second quarter. Rhumbline Advisers now owns 16,930 shares of the oil and gas producer’s stock valued at $129,000 after buying an additional 138 shares during the last quarter. PDT Partners LLC bought a new stake in Genie Energy during the second quarter valued at $159,000. Cornerstone Capital Management Holdings LLC. increased its stake in Genie Energy by 62.6% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 22,797 shares of the oil and gas producer’s stock valued at $173,000 after buying an additional 8,777 shares during the last quarter. Finally, Strs Ohio bought a new stake in Genie Energy during the second quarter valued at $187,000. 18.77% of the stock is owned by institutional investors.

About Genie Energy

Genie Energy Ltd. (Genie) owns interest in its subsidiary, Genie Energy International Corporation, which owns Genie Retail Energy and Genie Oil and Gas, Inc The Company operates through three segments: Genie Retail Energy (GRE), Afek Oil and Gas, Ltd. (Afek), and Genie Oil and Gas (GOGAS). The GRE segment operates retail energy providers (REPs), including IDT Energy, Inc and Residents Energy, Inc, and energy brokerage and marketing services.