Granite Bay Wealth Management LLC Takes Position in Cool Company Ltd. (NYSE:CLCO)

Granite Bay Wealth Management LLC bought a new position in shares of Cool Company Ltd. (NYSE:CLCO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,200 shares of the company’s stock, valued at approximately $290,000. Granite Bay Wealth Management LLC owned 0.06% of Cool as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CLCO. Sunbelt Securities Inc. acquired a new stake in Cool during the 1st quarter valued at approximately $50,000. Seelaus Asset Management LLC purchased a new stake in Cool in the first quarter valued at $115,000. Hosking Partners LLP acquired a new stake in Cool during the 1st quarter worth about $12,124,000. Susquehanna International Group Ltd. acquired a new stake in Cool during the 1st quarter worth about $275,000. Finally, Donald Smith & CO. Inc. raised its stake in shares of Cool by 58.6% during the 1st quarter. Donald Smith & CO. Inc. now owns 3,214,826 shares of the company’s stock valued at $35,749,000 after buying an additional 1,187,651 shares during the last quarter. Hedge funds and other institutional investors own 20.66% of the company’s stock.

Cool Stock Down 1.0 %

Shares of CLCO opened at $11.18 on Wednesday. The company has a market capitalization of $447.31 million, a price-to-earnings ratio of 6.11 and a beta of 0.43. Cool Company Ltd. has a 52 week low of $10.07 and a 52 week high of $13.94. The stock’s 50-day moving average price is $11.48 and its 200-day moving average price is $11.54. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.00.

Cool Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 9th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 14.67%. The ex-dividend date was Monday, September 9th. Cool’s dividend payout ratio (DPR) is 89.62%.

Cool Profile

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.