Nissay Asset Management Corp Japan ADV reduced its stake in Ship Finance International Limited (NYSE:SFL) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 284,466 shares of the shipping company’s stock after selling 3,600 shares during the period. Nissay Asset Management Corp Japan ADV owned about 0.23% of Ship Finance International worth $4,253,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of SFL. Synovus Financial Corp acquired a new stake in shares of Ship Finance International in the 1st quarter valued at approximately $100,000. Archford Capital Strategies LLC acquired a new stake in shares of Ship Finance International in the 1st quarter valued at approximately $112,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Ship Finance International in the 1st quarter valued at approximately $147,000. Amalgamated Bank acquired a new stake in shares of Ship Finance International in the 2nd quarter valued at approximately $169,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ship Finance International in the 1st quarter valued at approximately $210,000. Institutional investors own 23.73% of the company’s stock.
NYSE:SFL opened at $14.65 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.66 and a current ratio of 0.66. Ship Finance International Limited has a one year low of $12.85 and a one year high of $15.98. The company has a market cap of $1.81 billion, a P/E ratio of 12.31 and a beta of 1.23.
Ship Finance International (NYSE:SFL) last posted its earnings results on Thursday, May 31st. The shipping company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Ship Finance International had a net margin of 24.87% and a return on equity of 9.27%. The business had revenue of $92.30 million for the quarter, compared to the consensus estimate of $92.12 million. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. analysts expect that Ship Finance International Limited will post 1.05 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on SFL. Zacks Investment Research downgraded shares of Ship Finance International from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, August 7th. Seaport Global Securities upgraded shares of Ship Finance International from a “neutral” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Friday, June 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $16.13.
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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