Engineers Gate Manager LP acquired a new stake in GasLog (NYSE:GLOG) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,898 shares of the shipping company’s stock, valued at approximately $558,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Gilder Gagnon Howe & Co. LLC increased its position in shares of GasLog by 30.5% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 280,795 shares of the shipping company’s stock valued at $6,248,000 after buying an additional 65,692 shares during the period. Parametrica Management Ltd purchased a new position in shares of GasLog during the fourth quarter valued at about $401,000. KBC Group NV purchased a new position in shares of GasLog during the fourth quarter valued at about $457,000. Wells Fargo & Company MN increased its position in shares of GasLog by 124.6% during the fourth quarter. Wells Fargo & Company MN now owns 468,635 shares of the shipping company’s stock valued at $10,427,000 after buying an additional 259,953 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of GasLog during the fourth quarter valued at about $522,000. Hedge funds and other institutional investors own 48.02% of the company’s stock.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of GasLog from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Morgan Stanley lowered shares of GasLog from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research note on Monday, February 12th. They noted that the move was a valuation call. Seaport Global Securities reissued a “buy” rating and set a $23.00 price objective on shares of GasLog in a research note on Friday, February 23rd. Jefferies Group reissued a “buy” rating and set a $24.00 price objective on shares of GasLog in a research note on Friday, January 26th. Finally, Stifel Nicolaus lowered shares of GasLog from a “buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Monday, April 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. GasLog has an average rating of “Hold” and an average price target of $20.30.
GasLog (NYSE:GLOG) last posted its quarterly earnings data on Friday, May 4th. The shipping company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.08). GasLog had a negative return on equity of 0.15% and a net margin of 4.87%. The business had revenue of $138.50 million for the quarter, compared to the consensus estimate of $143.26 million. During the same period in the previous year, the firm earned $0.06 EPS. The company’s revenue was up 8.0% on a year-over-year basis. sell-side analysts forecast that GasLog will post 0.22 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 24th. Investors of record on Monday, May 14th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, May 11th.
GasLog Ltd. operates as an owner, operator, and manager of liquefied natural gas (LNG) carriers providing support to international energy companies. It provides maritime services for the transportation of LNG on a worldwide basis and vessel management services. As of February 28, 2018, its owned fleet consisted of 28 LNG carriers, including 23 ships on the water and 5 on order.
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