Verition Fund Management LLC Sells 56,175 Shares of Nordic American Tankers Limited (NYSE:NAT)

Verition Fund Management LLC trimmed its position in shares of Nordic American Tankers Limited (NYSE:NAT) by 71.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,485 shares of the shipping company’s stock after selling 56,175 shares during the quarter. Verition Fund Management LLC’s holdings in Nordic American Tankers were worth $83,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Nordic American Tankers in the second quarter valued at $25,000. Raymond James Trust N.A. acquired a new stake in Nordic American Tankers in the 3rd quarter valued at about $37,000. Bluefin Capital Management LLC acquired a new stake in Nordic American Tankers in the 2nd quarter valued at about $47,000. Caprock Group LLC bought a new position in shares of Nordic American Tankers in the second quarter worth about $55,000. Finally, Ballentine Partners LLC acquired a new position in shares of Nordic American Tankers during the second quarter worth approximately $63,000. 44.29% of the stock is owned by institutional investors.

Nordic American Tankers Price Performance

Shares of NYSE NAT opened at $2.53 on Wednesday. Nordic American Tankers Limited has a 1 year low of $2.47 and a 1 year high of $4.64. The firm’s 50-day moving average is $3.09 and its 200-day moving average is $3.52. The company has a current ratio of 0.73, a quick ratio of 0.56 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $527.21 million, a PE ratio of 8.71 and a beta of -0.26.

Nordic American Tankers Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 17th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.48 dividend on an annualized basis and a yield of 19.01%. Nordic American Tankers’s payout ratio is presently 55.17%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Nordic American Tankers from a “sell” rating to a “hold” rating in a report on Monday, December 2nd. Evercore ISI lowered their target price on Nordic American Tankers from $4.50 to $4.00 and set an “in-line” rating for the company in a research note on Friday, August 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $3.50 price target on shares of Nordic American Tankers in a research note on Friday, November 29th.

Nordic American Tankers Profile

Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 20 Suezmax crude oil tankers. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda.