Cool (NYSE:CLCO) Trading Down 1.8% – Here’s What Happened

Cool Company Ltd. (NYSE:CLCO) shares fell 1.8% during trading on Tuesday . The stock traded as low as $10.38 and last traded at $10.40. 214,340 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 225,833 shares. The stock had previously closed at $10.59.

Cool Stock Down 1.8 %

The firm has a market capitalization of $416.10 million, a price-to-earnings ratio of 5.68 and a beta of 0.42. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 1.00. The firm has a fifty day moving average price of $11.26 and a 200 day moving average price of $11.55.

Cool Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 9th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 15.77%. The ex-dividend date of this dividend was Monday, September 9th. Cool’s dividend payout ratio is 89.62%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Seelaus Asset Management LLC bought a new stake in shares of Cool during the 1st quarter valued at $115,000. Hosking Partners LLP acquired a new stake in shares of Cool in the 1st quarter valued at about $12,124,000. Susquehanna International Group Ltd. acquired a new stake in shares of Cool in the 1st quarter valued at about $275,000. Donald Smith & CO. Inc. raised its stake in shares of Cool by 58.6% in the 1st quarter. Donald Smith & CO. Inc. now owns 3,214,826 shares of the company’s stock valued at $35,749,000 after purchasing an additional 1,187,651 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Cool in the 2nd quarter valued at about $290,000. Institutional investors and hedge funds own 20.66% of the company’s stock.

About Cool

Cool Company Ltd. engages in the acquisition, ownership, operation, and chartering of liquefied natural gas carriers (LNGCs). As of December 31, 2023, it owned a fleet of eleven LNGCs, including seven modern tri-fuel diesel electric vessels; two modern 2-stroke and two TFDE vessels; and managed 17 LNGCs and floating storage and regasification units for third parties.