Tidal Investments LLC Sells 9,819 Shares of SFL Co. Ltd. (NYSE:SFL)

Tidal Investments LLC cut its holdings in SFL Co. Ltd. (NYSE:SFL) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,035 shares of the shipping company’s stock after selling 9,819 shares during the quarter. Tidal Investments LLC’s holdings in SFL were worth $695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of SFL during the third quarter worth $34,000. Quarry LP boosted its holdings in SFL by 428.2% during the third quarter. Quarry LP now owns 3,967 shares of the shipping company’s stock worth $46,000 after buying an additional 3,216 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of SFL during the 3rd quarter worth about $49,000. Farther Finance Advisors LLC increased its stake in shares of SFL by 1,375.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,293 shares of the shipping company’s stock valued at $50,000 after acquiring an additional 4,002 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new stake in shares of SFL in the 3rd quarter valued at approximately $92,000. Institutional investors own 28.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Fearnley Fonds raised shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st.

SFL Stock Up 0.2 %

NYSE:SFL opened at $9.74 on Friday. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 8.77 and a beta of 0.67. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.93. The stock has a 50-day moving average price of $10.58 and a two-hundred day moving average price of $11.69. SFL Co. Ltd. has a 1 year low of $9.64 and a 1 year high of $14.62.

SFL (NYSE:SFL) last issued its quarterly earnings data on Wednesday, November 6th. The shipping company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). SFL had a net margin of 16.03% and a return on equity of 14.61%. The business had revenue of $255.30 million during the quarter, compared to analyst estimates of $243.98 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. SFL’s revenue for the quarter was up 24.6% compared to the same quarter last year.

SFL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.27 per share. The ex-dividend date is Friday, December 13th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 11.09%. SFL’s payout ratio is 97.30%.

SFL Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.