MQS Management LLC Takes Position in Nordic American Tankers Limited $NAT

MQS Management LLC acquired a new position in Nordic American Tankers Limited (NYSE:NAT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 230,850 shares of the shipping company’s stock, valued at approximately $725,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in Nordic American Tankers by 269.8% in the first quarter. AQR Capital Management LLC now owns 129,546 shares of the shipping company’s stock valued at $319,000 after purchasing an additional 94,514 shares during the period. Dynamic Technology Lab Private Ltd increased its position in shares of Nordic American Tankers by 298.7% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 68,325 shares of the shipping company’s stock worth $168,000 after purchasing an additional 51,187 shares during the last quarter. Empowered Funds LLC raised its holdings in Nordic American Tankers by 8.9% in the 1st quarter. Empowered Funds LLC now owns 221,939 shares of the shipping company’s stock valued at $546,000 after buying an additional 18,222 shares during the period. Jane Street Group LLC raised its holdings in Nordic American Tankers by 22.6% in the 1st quarter. Jane Street Group LLC now owns 428,298 shares of the shipping company’s stock valued at $1,054,000 after buying an additional 78,948 shares during the period. Finally, CWM LLC lifted its position in Nordic American Tankers by 406.9% in the second quarter. CWM LLC now owns 41,908 shares of the shipping company’s stock valued at $110,000 after buying an additional 33,641 shares during the last quarter. Institutional investors and hedge funds own 44.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NAT. Jefferies Financial Group reiterated a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research report on Friday, November 28th. Evercore increased their price objective on shares of Nordic American Tankers from $2.50 to $3.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nordic American Tankers in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Nordic American Tankers from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $3.25.

Nordic American Tankers Trading Up 1.6%

NYSE NAT opened at $4.32 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.64 and a current ratio of 1.95. The firm has a market cap of $914.76 million, a price-to-earnings ratio of 216.11 and a beta of -0.44. The firm has a 50 day simple moving average of $3.79 and a 200-day simple moving average of $3.47. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.38.

Nordic American Tankers (NYSE:NAT) last announced its earnings results on Friday, November 28th. The shipping company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The business had revenue of $40.18 million for the quarter, compared to analysts’ expectations of $52.89 million. Nordic American Tankers had a return on equity of 0.39% and a net margin of 1.12%. Equities research analysts anticipate that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 22nd. Stockholders of record on Monday, December 8th were given a dividend of $0.13 per share. This is an increase from Nordic American Tankers’s previous quarterly dividend of $0.10. This represents a $0.52 dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend was Monday, December 8th. Nordic American Tankers’s dividend payout ratio is currently 2,600.00%.

Nordic American Tankers Company Profile

Nordic American Tankers Limited is a Bermuda-based shipping company specializing in the ownership and operation of Suezmax crude oil tankers. The company’s fleet is employed on the spot and period charter markets, transporting crude oil across major global trade routes. By focusing on commercially flexible employment strategies, Nordic American Tankers seeks to optimize vessel utilization and generate stable income for shareholders.

Founded in 1995 and headquartered in Hamilton, Bermuda, Nordic American Tankers maintains technical and commercial management arrangements through established ship-management partners.