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

Point72 Asia Singapore Pte. Ltd. cut its stake in Genie Energy Ltd. (NYSE:GNE) by 34.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,574 shares of the oil and gas producer’s stock after selling 4,008 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Genie Energy were worth $123,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Martingale Asset Management L P boosted its position in Genie Energy by 16.4% in the 3rd quarter. Martingale Asset Management L P now owns 36,791 shares of the oil and gas producer’s stock valued at $598,000 after buying an additional 5,197 shares during the period. Cerity Partners LLC raised its stake in shares of Genie Energy by 118.5% during the third quarter. Cerity Partners LLC now owns 94,324 shares of the oil and gas producer’s stock valued at $1,533,000 after acquiring an additional 51,160 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Genie Energy by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 41,960 shares of the oil and gas producer’s stock valued at $682,000 after purchasing an additional 1,891 shares during the period. Quest Partners LLC bought a new position in Genie Energy in the third quarter worth approximately $433,000. Finally, GSA Capital Partners LLP increased its holdings in Genie Energy by 269.5% during the 3rd quarter. GSA Capital Partners LLP now owns 61,871 shares of the oil and gas producer’s stock worth $1,005,000 after purchasing an additional 45,125 shares during the period. Hedge funds and other institutional investors own 49.15% of the company’s stock.

Insider Buying and Selling

In other news, Director James A. Courter sold 3,675 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $17.19, for a total value of $63,173.25. Following the completion of the transaction, the director now directly owns 304,411 shares of the company’s stock, valued at approximately $5,232,825.09. The trade was a 1.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Avi Goldin sold 7,300 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $15.42, for a total value of $112,566.00. Following the sale, the chief financial officer now owns 127,699 shares of the company’s stock, valued at $1,969,118.58. This trade represents a 5.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,275 shares of company stock valued at $215,276 over the last three months. 16.50% of the stock is owned by company insiders.

Genie Energy Trading Down 0.1 %

Shares of NYSE GNE opened at $14.75 on Friday. Genie Energy Ltd. has a twelve month low of $14.00 and a twelve month high of $30.90. The firm has a market cap of $401.20 million, a PE ratio of 105.36 and a beta of 0.07. The business has a fifty day simple moving average of $15.98 and a two-hundred day simple moving average of $15.90. The company has a quick ratio of 2.47, a current ratio of 2.56 and a debt-to-equity ratio of 0.01.

Genie Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Tuesday, November 12th were issued a $0.075 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. Genie Energy’s payout ratio is currently 214.30%.

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.