Dynamic Technology Lab Private Ltd Acquires 53,052 Shares of SFL Corporation Ltd. $SFL

Dynamic Technology Lab Private Ltd raised its holdings in shares of SFL Corporation Ltd. (NYSE:SFL) by 257.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,689 shares of the shipping company’s stock after buying an additional 53,052 shares during the quarter. Dynamic Technology Lab Private Ltd owned about 0.05% of SFL worth $555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. grew its position in SFL by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 3,297,605 shares of the shipping company’s stock worth $27,469,000 after purchasing an additional 704,710 shares during the last quarter. Everstar Asset Management LLC acquired a new position in shares of SFL during the second quarter valued at about $509,000. Inceptionr LLC bought a new stake in shares of SFL in the second quarter valued at about $121,000. PNC Financial Services Group Inc. grew its position in SFL by 88.9% during the second quarter. PNC Financial Services Group Inc. now owns 23,630 shares of the shipping company’s stock worth $197,000 after buying an additional 11,118 shares in the last quarter. Finally, Advisors Capital Management LLC grew its position in SFL by 2.8% during the second quarter. Advisors Capital Management LLC now owns 443,337 shares of the shipping company’s stock worth $3,693,000 after buying an additional 12,061 shares in the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

SFL Stock Performance

NYSE:SFL opened at $10.85 on Wednesday. The firm has a market capitalization of $1.58 billion, a PE ratio of -54.23 and a beta of 0.41. The company has a quick ratio of 0.42, a current ratio of 0.36 and a debt-to-equity ratio of 2.04. SFL Corporation Ltd. has a 12-month low of $6.73 and a 12-month high of $11.28. The firm has a 50-day moving average price of $9.36 and a 200 day moving average price of $8.34.

SFL (NYSE:SFL) last released its quarterly earnings data on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share for the quarter. SFL had a negative net margin of 3.61% and a negative return on equity of 0.30%. The company had revenue of $175.51 million for the quarter, compared to analyst estimates of $168.36 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Thursday, March 12th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.80 annualized dividend and a yield of 7.4%. SFL’s payout ratio is currently -400.00%.

Analyst Upgrades and Downgrades

SFL has been the subject of several recent research reports. Weiss Ratings raised SFL from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 2nd. Wall Street Zen lowered SFL from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, BTIG Research upped their target price on SFL from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.00.

SFL Company Profile

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.