MGO One Seven LLC Takes $218,000 Position in SFL Corporation Ltd. $SFL

MGO One Seven LLC purchased a new stake in SFL Corporation Ltd. (NYSE:SFL) during the 2nd quarter, HoldingsChannel reports. The fund purchased 26,148 shares of the shipping company’s stock, valued at approximately $218,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in SFL by 150.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,618,303 shares of the shipping company’s stock worth $21,470,000 after acquiring an additional 1,574,696 shares during the period. Bank of New York Mellon Corp increased its holdings in SFL by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,314,878 shares of the shipping company’s stock worth $10,782,000 after acquiring an additional 69,667 shares during the period. Empowered Funds LLC increased its holdings in SFL by 2.0% during the 1st quarter. Empowered Funds LLC now owns 752,960 shares of the shipping company’s stock worth $6,174,000 after acquiring an additional 15,109 shares during the period. Victory Capital Management Inc. increased its holdings in SFL by 45.1% during the 1st quarter. Victory Capital Management Inc. now owns 653,547 shares of the shipping company’s stock worth $5,359,000 after acquiring an additional 203,236 shares during the period. Finally, Nuveen LLC bought a new stake in SFL during the 1st quarter worth approximately $4,172,000. Institutional investors own 28.59% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SFL in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, SFL presently has an average rating of “Buy”.

SFL Price Performance

Shares of NYSE:SFL opened at $7.02 on Tuesday. The company’s fifty day moving average price is $7.91 and its 200-day moving average price is $8.34. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 26.98 and a beta of 0.49. SFL Corporation Ltd. has a one year low of $6.73 and a one year high of $11.38. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.30 and a quick ratio of 0.30.

SFL (NYSE:SFL) last issued its quarterly earnings results on Tuesday, August 19th. The shipping company reported $0.01 EPS for the quarter. The firm had revenue of $192.59 million for the quarter, compared to analyst estimates of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 EPS.

SFL Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.4%. SFL’s dividend payout ratio is presently 307.69%.

About SFL

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.