Renaissance Technologies LLC lowered its position in Ship Finance International Limited (NYSE:SFL) by 53.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 674,132 shares of the shipping company’s stock after selling 763,830 shares during the quarter. Renaissance Technologies LLC owned about 0.55% of Ship Finance International worth $9,370,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. purchased a new position in Ship Finance International during the 3rd quarter worth approximately $115,000. Trilogy Capital Inc. purchased a new position in shares of Ship Finance International during the 2nd quarter valued at approximately $219,000. MML Investors Services LLC increased its holdings in shares of Ship Finance International by 37.9% during the 3rd quarter. MML Investors Services LLC now owns 17,723 shares of the shipping company’s stock valued at $246,000 after purchasing an additional 4,868 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of Ship Finance International by 34.5% during the 3rd quarter. Moody National Bank Trust Division now owns 20,680 shares of the shipping company’s stock valued at $288,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Ship Finance International by 1,180.3% during the 2nd quarter. Macquarie Group Ltd. now owns 26,400 shares of the shipping company’s stock valued at $395,000 after purchasing an additional 24,338 shares in the last quarter. 29.09% of the stock is currently owned by institutional investors and hedge funds.
SFL traded up $0.26 on Monday, hitting $11.85. The company had a trading volume of 538,501 shares, compared to its average volume of 715,876. The firm has a market cap of $1.45 billion, a P/E ratio of 9.96 and a beta of 1.30. Ship Finance International Limited has a 1 year low of $10.31 and a 1 year high of $15.98. The company has a current ratio of 0.61, a quick ratio of 0.60 and a debt-to-equity ratio of 1.10.
Ship Finance International (NYSE:SFL) last issued its quarterly earnings data on Tuesday, November 20th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.08. Ship Finance International had a net margin of 22.77% and a return on equity of 9.68%. The firm had revenue of $111.00 million for the quarter, compared to analyst estimates of $114.96 million. During the same period in the previous year, the firm earned $0.31 EPS. Ship Finance International’s revenue was up 18.5% on a year-over-year basis. Equities research analysts forecast that Ship Finance International Limited will post 0.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Wednesday, December 12th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.81%. The ex-dividend date of this dividend was Tuesday, December 11th. Ship Finance International’s dividend payout ratio is presently 117.65%.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Ship Finance International from a “hold” rating to a “strong-buy” rating and set a $14.00 target price for the company in a report on Friday, November 2nd. UBS Group raised shares of Ship Finance International from a “sell” rating to a “buy” rating in a research note on Thursday, November 29th. B. Riley assumed coverage on shares of Ship Finance International in a research note on Thursday, January 10th. They issued a “neutral” rating and a $11.90 price target on the stock. Finally, Citigroup assumed coverage on shares of Ship Finance International in a research note on Thursday, December 27th. They set a “neutral” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $13.88.
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Ship Finance International Profile
Ship Finance International Limited owns and operates vessels and offshore related assets primarily in Bermuda, Cyprus, Malta, Liberia, Norway, the United Kingdom, and the Marshall Islands. It is also involved in the charter, purchase, and sale of assets. In addition, the company operates in various sectors of the shipping and offshore industry, including oil transportation, dry bulk shipments, chemical transportation, oil product transportation, container transportation, car transportation, drilling rigs, and offshore supply vessels.
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