Nuveen Asset Management LLC purchased a new position in Ship Finance International Limited (NYSE:SFL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 351,289 shares of the shipping company’s stock, valued at approximately $4,394,000. Nuveen Asset Management LLC owned about 0.29% of Ship Finance International at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SFL. Advisory Services Network LLC grew its holdings in Ship Finance International by 3.2% during the 1st quarter. Advisory Services Network LLC now owns 38,348 shares of the shipping company’s stock worth $473,000 after acquiring an additional 1,191 shares in the last quarter. Advisor Group Inc. grew its holdings in Ship Finance International by 7.2% during the 2nd quarter. Advisor Group Inc. now owns 21,296 shares of the shipping company’s stock worth $268,000 after acquiring an additional 1,438 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Ship Finance International by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,727 shares of the shipping company’s stock worth $309,000 after acquiring an additional 1,638 shares in the last quarter. LPL Financial LLC grew its holdings in Ship Finance International by 3.8% during the 2nd quarter. LPL Financial LLC now owns 46,486 shares of the shipping company’s stock worth $582,000 after acquiring an additional 1,703 shares in the last quarter. Finally, Manchester Financial Inc. bought a new position in Ship Finance International during the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 29.83% of the company’s stock.
In related news, insider Cullen Keith purchased 600,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average price of $0.05 per share, with a total value of $30,000.00.
Several research firms have commented on SFL. B. Riley set a $14.00 price target on shares of Ship Finance International and gave the company a “hold” rating in a research report on Wednesday, August 21st. TheStreet raised shares of Ship Finance International from a “c+” rating to a “b-” rating in a research report on Monday, September 9th. Zacks Investment Research lowered shares of Ship Finance International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, ValuEngine raised shares of Ship Finance International from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $13.67.
SFL traded down $0.04 during trading on Friday, reaching $14.25. 325,561 shares of the company’s stock were exchanged, compared to its average volume of 593,287. Ship Finance International Limited has a 1 year low of $10.31 and a 1 year high of $15.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.49 and a quick ratio of 1.46. The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.83 and a beta of 1.20. The company’s fifty day simple moving average is $14.47 and its 200-day simple moving average is $13.37.
Ship Finance International (NYSE:SFL) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $110.90 million during the quarter, compared to analyst estimates of $114.61 million. Ship Finance International had a net margin of 20.77% and a return on equity of 8.93%. Equities analysts forecast that Ship Finance International Limited will post 0.83 EPS for the current year.
About Ship Finance International
Ship Finance International Ltd. engages in the ownership and operation of vessels and offshore related assets. It also involves in the charter, purchase, and sale of assets. Its assets include oil tankers, dry bulk carriers, container vessels, car carriers, jack-up drilling rig, ultra-deepwater drilling units, offshore supply vessels, and chemical tankers.
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