Y Intercept Hong Kong Ltd Acquires New Holdings in SFL Co. Ltd. (NYSE:SFL)

Y Intercept Hong Kong Ltd bought a new position in SFL Co. Ltd. (NYSE:SFL) in the 3rd quarter, HoldingsChannel reports. The fund bought 25,613 shares of the shipping company’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP boosted its position in shares of SFL by 428.2% during the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock worth $46,000 after buying an additional 3,216 shares during the period. Point72 DIFC Ltd bought a new position in SFL during the 3rd quarter valued at $49,000. Farther Finance Advisors LLC increased its position in shares of SFL by 1,375.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 4,002 shares during the period. Millburn Ridgefield Corp bought a new stake in shares of SFL in the 3rd quarter worth $92,000. Finally, Verition Fund Management LLC acquired a new stake in shares of SFL in the third quarter valued at $141,000. Institutional investors own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Fearnley Fonds raised SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Pareto Securities upgraded shares of SFL from a “hold” rating to a “buy” rating in a report on Tuesday, August 20th.

SFL Stock Performance

Shares of NYSE SFL opened at $9.86 on Wednesday. SFL Co. Ltd. has a 52-week low of $9.67 and a 52-week high of $14.62. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 8.88 and a beta of 0.67. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 1.93. The stock’s fifty day simple moving average is $10.68 and its 200 day simple moving average is $11.75.

SFL (NYSE:SFL) last posted its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $255.30 million for the quarter, compared to analysts’ expectations of $243.98 million. SFL had a net margin of 16.03% and a return on equity of 14.61%. SFL’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 earnings per share.

SFL Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 10.95%. The ex-dividend date is Friday, December 13th. SFL’s payout ratio is 97.30%.

SFL Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.