Sigma Planning Corp Buys 110,042 Shares of SFL Corporation Ltd. $SFL

Sigma Planning Corp increased its stake in shares of SFL Corporation Ltd. (NYSE:SFL) by 89.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,577 shares of the shipping company’s stock after acquiring an additional 110,042 shares during the quarter. Sigma Planning Corp’s holdings in SFL were worth $1,946,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in SFL by 10.7% during the second quarter. International Assets Investment Management LLC now owns 117,045 shares of the shipping company’s stock worth $975,000 after acquiring an additional 11,308 shares in the last quarter. MGO One Seven LLC bought a new position in SFL during the second quarter worth $218,000. CWM LLC boosted its stake in SFL by 893.1% during the second quarter. CWM LLC now owns 14,608 shares of the shipping company’s stock worth $122,000 after acquiring an additional 13,137 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in SFL by 9.3% during the second quarter. DAVENPORT & Co LLC now owns 13,722 shares of the shipping company’s stock worth $114,000 after acquiring an additional 1,166 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in SFL by 65.3% during the second quarter. Signaturefd LLC now owns 3,392 shares of the shipping company’s stock worth $28,000 after acquiring an additional 1,340 shares in the last quarter. 28.59% of the stock is owned by institutional investors.

SFL Stock Down 1.4%

Shares of NYSE SFL opened at $7.33 on Wednesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 28.17 and a beta of 0.49. The company has a 50-day moving average price of $7.61 and a 200-day moving average price of $8.32. SFL Corporation Ltd. has a 1 year low of $6.73 and a 1 year high of $11.18. 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 data on Tuesday, August 19th. The shipping company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $192.59 million during the quarter, compared to analysts’ expectations of $192.40 million. SFL had a net margin of 3.97% and a return on equity of 6.67%. The business’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.16 earnings per share.

SFL Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Friday, September 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date was Friday, September 12th. SFL’s dividend payout ratio (DPR) is currently 307.69%.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of SFL in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

SFL Company 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.