Sigma Planning Corp Sells 69,042 Shares of SFL Corporation Ltd. $SFL

Sigma Planning Corp cut its holdings in shares of SFL Corporation Ltd. (NYSE:SFL) by 62.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 41,699 shares of the shipping company’s stock after selling 69,042 shares during the period. Sigma Planning Corp’s holdings in SFL were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in SFL by 789.3% during the second quarter. EverSource Wealth Advisors LLC now owns 3,317 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 2,944 shares during the period. Triumph Capital Management bought a new stake in SFL during the third quarter valued at about $32,000. Signaturefd LLC raised its holdings in SFL by 30.5% during the fourth quarter. Signaturefd LLC now owns 6,008 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 1,405 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in SFL during the third quarter valued at about $79,000. Finally, Evergreen Capital Management LLC bought a new stake in SFL during the fourth quarter valued at about $83,000. 28.59% of the stock is owned by institutional investors.

SFL Trading Up 1.1%

Shares of SFL stock opened at $11.90 on Friday. SFL Corporation Ltd. has a 12-month low of $6.73 and a 12-month high of $11.97. The company has a current ratio of 0.36, a quick ratio of 0.35 and a debt-to-equity ratio of 2.04. The stock’s 50-day moving average price is $10.85 and its 200-day moving average price is $9.21. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -59.52 and a beta of 0.42.

SFL (NYSE:SFL) last issued its earnings results on Wednesday, February 11th. The shipping company reported ($0.04) earnings per share (EPS) for the quarter. SFL had a negative return on equity of 0.30% and a negative net margin of 3.61%.The firm had revenue of $175.51 million during the quarter, compared to the consensus estimate of $168.36 million. During the same period last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter 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. Shareholders of record on Thursday, March 12th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Thursday, March 12th. SFL’s payout ratio is presently -400.00%.

Wall Street Analysts Forecast Growth

SFL has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SFL in a report on Friday, May 1st. BTIG Research lifted their target price on SFL from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen raised SFL from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus 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.