Dark Forest Capital Management LP Lowers Stock Holdings in Nordic American Tankers Limited (NYSE:NAT)

Dark Forest Capital Management LP lowered its holdings in shares of Nordic American Tankers Limited (NYSE:NAT) by 71.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,501 shares of the shipping company’s stock after selling 56,740 shares during the quarter. Dark Forest Capital Management LP’s holdings in Nordic American Tankers were worth $56,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in shares of Nordic American Tankers by 834.7% in the fourth quarter. Victory Capital Management Inc. now owns 545,019 shares of the shipping company’s stock valued at $1,363,000 after acquiring an additional 486,710 shares in the last quarter. Norges Bank purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $1,202,000. Renaissance Technologies LLC lifted its position in shares of Nordic American Tankers by 68.8% in the fourth quarter. Renaissance Technologies LLC now owns 978,100 shares of the shipping company’s stock valued at $2,445,000 after acquiring an additional 398,700 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Nordic American Tankers in the fourth quarter valued at approximately $509,000. Finally, Barclays PLC lifted its position in shares of Nordic American Tankers by 274.8% in the third quarter. Barclays PLC now owns 268,115 shares of the shipping company’s stock valued at $984,000 after acquiring an additional 196,571 shares in the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Nordic American Tankers Price Performance

NYSE:NAT opened at $2.56 on Thursday. Nordic American Tankers Limited has a one year low of $2.13 and a one year high of $4.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.56 and a current ratio of 0.73. The stock has a market cap of $534.53 million, a PE ratio of 8.83 and a beta of 0.02. The stock has a 50 day moving average price of $2.49 and a 200 day moving average price of $2.73.

Nordic American Tankers (NYSE:NAT) last posted its quarterly earnings results on Wednesday, March 5th. The shipping company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.02). Nordic American Tankers had a net margin of 26.41% and a return on equity of 11.95%. The company had revenue of $46.39 million during the quarter, compared to analyst estimates of $51.38 million. Equities research analysts expect that Nordic American Tankers Limited will post 0.24 EPS for the current fiscal year.

Nordic American Tankers Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, March 10th. This represents a $0.24 annualized dividend and a yield of 9.38%. Nordic American Tankers’s dividend payout ratio (DPR) is 109.09%.

Analyst Ratings Changes

NAT has been the topic of several research reports. StockNews.com downgraded Nordic American Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, April 9th. Jefferies Financial Group restated a “hold” rating and issued a $3.00 target price on shares of Nordic American Tankers in a research report on Friday, February 28th.

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.