Alps Advisors Inc. decreased its position in Ship Finance International Ltd. (NYSE:SFL) by 6.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 28,804 shares of the company’s stock after selling 2,119 shares during the period. Alps Advisors Inc.’s holdings in Ship Finance International were worth $425,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arete Wealth Advisors LLC boosted its position in Ship Finance International by 2.4% in the first quarter. Arete Wealth Advisors LLC now owns 11,317 shares of the company’s stock worth $157,000 after buying an additional 267 shares during the period. BlackRock Japan Co. Ltd purchased a new position in Ship Finance International during the first quarter worth approximately $175,000. Parametrica Management Ltd purchased a new position in Ship Finance International during the second quarter worth approximately $363,000. Commonwealth Equity Services Inc boosted its position in Ship Finance International by 75.7% in the first quarter. Commonwealth Equity Services Inc now owns 28,681 shares of the company’s stock worth $398,000 after buying an additional 12,355 shares during the period. Finally, BlackRock Inc. boosted its position in Ship Finance International by 65.5% in the first quarter. BlackRock Inc. now owns 32,301 shares of the company’s stock worth $449,000 after buying an additional 12,783 shares during the period. Institutional investors own 30.05% of the company’s stock.
Shares of Ship Finance International Ltd. (NYSE:SFL) traded down 1.02% during mid-day trading on Friday, hitting $14.52. The stock had a trading volume of 1,782,110 shares. The company’s 50 day moving average price is $14.89 and its 200 day moving average price is $14.85. Ship Finance International Ltd. has a 12-month low of $9.83 and a 12-month high of $17.80. The stock has a market cap of $1.36 billion, a P/E ratio of 8.48 and a beta of 1.28.
Ship Finance International (NYSE:SFL) last released its earnings results on Wednesday, August 24th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.09. Ship Finance International had a return on equity of 17.86% and a net margin of 41.55%. Equities research analysts predict that Ship Finance International Ltd. will post $2.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Monday, September 12th were paid a $0.45 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.80 annualized dividend and a yield of 12.40%. Ship Finance International’s payout ratio is currently 90.45%.
A number of research firms have commented on SFL. Zacks Investment Research cut Ship Finance International from a “hold” rating to a “sell” rating in a research note on Thursday, June 23rd. Jefferies Group set a $15.00 price target on Ship Finance International and gave the stock a “hold” rating in a research note on Wednesday, July 27th. Clarkson Capital restated a “neutral” rating on shares of Ship Finance International in a research note on Friday, June 17th. Finally, Seaport Global Securities initiated coverage on Ship Finance International in a research note on Monday, August 22nd. They set a “neutral” rating and a $16.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $17.00.
About Ship Finance International
Ship Finance International Limited is a holding, and international ship owning and chartering company. The Company is engaged in the ownership and operation of vessels and offshore related assets, and also involved in the charter, purchase and sale of assets. Its assets consist of approximately 20 oil tankers, over 20 dry bulk carriers, approximately 20 container vessels, including a newbuilding, two car carriers, two jack-up drilling rigs, two ultra-deepwater drilling units, five offshore supply vessels, two chemical tankers and two newbuilding oil product tankers.
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