Tudor Investment Corp ET AL Takes $668,000 Position in SFL Corporation Ltd. $SFL

Tudor Investment Corp ET AL purchased a new stake in SFL Corporation Ltd. (NYSE:SFL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 88,649 shares of the shipping company’s stock, valued at approximately $668,000.

Several other hedge funds have also made changes to their positions in SFL. EverSource Wealth Advisors LLC grew its stake in shares of SFL by 789.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after buying an additional 2,944 shares during the period. Triumph Capital Management purchased a new stake in shares of SFL in the 3rd quarter valued at approximately $32,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of SFL in the 3rd quarter valued at approximately $79,000. CIBC Bancorp USA Inc. purchased a new stake in shares of SFL in the 3rd quarter valued at approximately $97,000. Finally, Cetera Investment Advisers grew its stake in shares of SFL by 10.4% in the 2nd quarter. Cetera Investment Advisers now owns 16,034 shares of the shipping company’s stock valued at $134,000 after buying an additional 1,510 shares during the period. Hedge funds and other institutional investors own 28.59% of the company’s stock.

SFL Stock Performance

Shares of SFL stock opened at $10.88 on Thursday. The firm’s 50 day moving average price is $10.52 and its 200-day moving average price is $8.81. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.35 and a current ratio of 0.36. SFL Corporation Ltd. has a one year low of $6.73 and a one year high of $11.28. The firm has a market cap of $1.57 billion, a P/E ratio of -54.38 and a beta of 0.39.

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

SFL Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently weighed in on SFL. BTIG Research increased their price target on shares of SFL from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen raised shares of SFL from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings raised shares of SFL from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.00.

About SFL

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.