Point72 Asia Singapore Pte. Ltd. Sells 4,008 Shares of Genie Energy Ltd. (NYSE:GNE)

Point72 Asia Singapore Pte. Ltd. trimmed its holdings in Genie Energy Ltd. (NYSE:GNE) by 34.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,574 shares of the oil and gas producer’s stock after selling 4,008 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Genie Energy were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew 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 valued at $18,739,000 after purchasing an additional 12,806 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 worth $202,000 after acquiring an additional 1,002 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Genie Energy during the 2nd quarter worth approximately $179,000. Allspring Global Investments Holdings LLC boosted its position in shares of Genie Energy by 12.2% during the 2nd 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 acquiring an additional 8,643 shares during the last quarter. Finally, Principal Financial Group Inc. boosted 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 valued at $473,000 after acquiring an additional 2,941 shares during the last quarter. Institutional investors own 49.15% of the company’s stock.

Insider Activity at Genie Energy

In other Genie Energy news, CFO Avi Goldin sold 2,300 shares of Genie Energy stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $17.19, for a total transaction of $39,537.00. Following the completion of the transaction, the chief financial officer now directly owns 134,999 shares of the company’s stock, valued at $2,320,632.81. The trade was a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James A. Courter sold 3,675 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $17.19, for a total transaction of $63,173.25. Following the completion of the sale, the director now directly owns 304,411 shares in the company, 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. In the last quarter, insiders sold 13,275 shares of company stock valued at $215,276. Insiders own 16.50% of the company’s stock.

Genie Energy Trading Down 0.1 %

Shares of GNE opened at $14.75 on Friday. The stock has a market capitalization of $401.20 million, a PE ratio of 105.36 and a beta of 0.07. The company’s fifty day moving average is $15.98 and its 200 day moving average is $15.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.47 and a current ratio of 2.56. Genie Energy Ltd. has a fifty-two week low of $14.00 and a fifty-two week high of $30.90.

Genie Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Tuesday, November 12th. Genie Energy’s dividend payout ratio is 214.30%.

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.